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Updated over 6 years ago,

User Stats

27
Posts
3
Votes
Christian (Whitehead) Scott
  • Dallas, TX
3
Votes |
27
Posts

How to buy as owner occupied on duplex when tenants on MTM?

Christian (Whitehead) Scott
  • Dallas, TX
Posted

Hi BP gang,

I'm wanting to purchase a 2-4 unit multi-fam property as an owner occupant, considering a duplex currently. If both units are occupied with month to month leases, am I obligated to keep the current tenants or can I give them "X" amount of days to vacate the property upon closing or the like? The lender mentioned the tenants having the right to remain in the property, and me possibly not getting financing as an owner occupant. But I know there is a way viable & ethical way of handling this so I can get the financing.

Thoughts?

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