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Updated almost 8 years ago on . Most recent reply

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7
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0
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John C.
  • Cleveland, OH
0
Votes |
7
Posts

How to house hack when all units are filled?

John C.
  • Cleveland, OH
Posted

Hey guys, I am looking to house hack and this would be my first real step into REI. A lot of the duplexes/triplexes I am looking at are currently all filled. Some of these are properties are great deals and I am excited that there are already tenants, however I would need one unit to be free so I could move in..

I'd really hate to force someone to move just because I now own the building. I'm not sure if that's even legal? Has anyone come across this problem? If so, what are some ethical ways I could handle this?

Thanks!

Most Popular Reply

User Stats

41
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22
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Gunnar Sevart
  • Lender
  • Falls Church, VA
22
Votes |
41
Posts
Gunnar Sevart
  • Lender
  • Falls Church, VA
Replied

@John C. When you sign the contract to acquire the property there will be an agreement stating that the renters leases will be honored. If the tenants leases are expiring soon after closing, then you do not have to renew it. That'll probably be one of your criteria when trying to purchase a duplex/triplex. One of the tenants lease will expire soon. 

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