Property to be purchased with current tenants being evicted

[Clay Condol]

I've found what may be a deal. Part of the seller's motivation is that his tenants (family members) aren't paying their rent and are refusing to leave, even when offered forgiveness for due rent. He is currently in the process of legally evicting them. The property is partially rehabbed and the seller has run into health problems and cannot continue rehab work.

I'm considering purchasing before the tenants are evicted so he doesn't have to go through the drama of evicting his own family members. However, I know this would be a risky move, and my offer would reflect that. I plan on structuring the deal so that any past rent to be paid is due to me after eviction proceedings. Does this sound like a good plan? Or should I wait until after the tenants are gone to purchase?

Any advice is appricaited,

Clay

[Marcia Maynard]

Originally posted by @Clay Condol:

I've found what may be a deal. Part of the seller's motivation is that his tenants (family members) aren't paying their rent and are refusing to leave, even when offered forgiveness for due rent. He is currently in the process of legally evicting them. The property is partially rehabbed and the seller has run into health problems and cannot continue rehab work.

I'm considering purchasing before the tenants are evicted so he doesn't have to go through the drama of evicting his own family members. However, I know this would be a risky move, and my offer would reflect that. I plan on structuring the deal so that any past rent to be paid is due to me after eviction proceedings. Does this sound like a good plan? Or should I wait until after the tenants are gone to purchase?

Any advice is appricaited,

Clay

Great savings can be had by solving another person's problem. Take away his headache for the right price. It is likely the family members will respond better to you, the outsider, than to the current owner with whom they share a history. If you can get the property under contract now, you can avoid the risk of losing the deal to another creative investor!