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Updated over 10 years ago on . Most recent reply

Account Closed
  • Investor
  • Sunnyside, NY
114
Votes |
355
Posts

Inheriting a tenant - tell me what you think?

Account Closed
  • Investor
  • Sunnyside, NY
Posted

So I'm seriously considering putting an offer on a 1b/1b rental unit. The unit is in great condition, the location is awesome, the numbers check out. The unit already has a tenant in (tenant moved in almost 2 months ago and has a one year lease) and is paying market related rent. If I bought the place I would be taking over the lease. I am doing due diligence and have requested her lease agreement, a report on her tenant application.

The one weird thing: She moved in 6 weeks ago, the place is clean, she presents herself well. But the place is almost empty. A mattress on the floor, boxes of clothes and personal belongings in the corner but no other furniture. Now I remember not having a lot of furniture when I rented my first apartment age 22 but this lady is probably closer to 40 and can seemingly afford to live in an apartment in an "A/B" neighborhood.

Any thoughts? What does your spidey sense tell you?

Most Popular Reply

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Hattie Dizmond
  • Investor
  • Dallas, TX
1,810
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2,078
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Hattie Dizmond
  • Investor
  • Dallas, TX
Replied

Based on what I've experienced in the last 3 years with a couple of friends who are very successful but have gone through bitter divorces, I'm not judging anyone.

Also, I just left a job where people were overseas more than they were home for long periods of time.

There are just tons of reason why solid, upstanding people don't live the way you might expect them to.  I would just ask, if you have concerns.  I appreciate the direct approach.

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