Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 11 years ago on . Most recent reply

User Stats

98
Posts
10
Votes
Andrew Whicker
  • Investor
  • Ogden, UT
10
Votes |
98
Posts

Triplex under contract, full occupancy, want to purchase under FHA (need a tenant removed)

Andrew Whicker
  • Investor
  • Ogden, UT
Posted

Hi,

A few facts:

- Triplex under contract

- 100% occupancy

- FHA loan secured

- 100% tenants on month to month leases

- Due Diligence stage is almost complete.

The questions:

- The tenants are long term and I think that any hope of getting a security deposit from them is low. I would like to live in the unit that needs rehab the most (currently renting very low, $330 / month). I was thinking that instead of using the eviction process, I could pay him a month of rent in order for him to leave quietly. How do I put this under contract or is it simply verbal?

- At what point does the eviction process start while the house is under contract? I am still in the due diligence stage and I did not want start an eviction process, find out I didn't want the house, and then have to stop the eviction process.

Loading replies...