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Updated over 8 years ago,

User Stats

89
Posts
20
Votes
Patrick Moore
  • Rental Property Investor
  • Chicago, IL
20
Votes |
89
Posts

Listing an apartment before purchasing the building

Patrick Moore
  • Rental Property Investor
  • Chicago, IL
Posted

Hello all,

I have been following the BP podcasts and reading the forums for a few months now and I'm about to make the jump into house hacking. I just looked at a triplex in the chicagoland area. two of the units are already occupied. I'm not really sure how I feel about inheriting tenants so after getting home from the showing, feeling confident that I am going to buy it. I made a listing on CL within a few hours I started getting hits on it. I have a few questions that maybe some of you can help me with... 

What should I tell the interested tenants when they text/email me?

It says the current tenants are on a month to month basis right now... will it be difficult to vacate them? or do I just raise the rent so they move?

Would it be worth it to hire a person to act as the property manager? I know I am a kind person and I don't want to have the tenants walk all over me... also I'm 25 and the tenants are much older than me. 

I know the one tenant is smoking in the apartment which I am not ok with. 

What are the pros/cons of allowing pets?

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