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Updated almost 6 years ago,
Should I buy a property with a difficult non-paying tenant?
Hi All - I am looking to potentially acquire a property at a discount due to an issue that the current owner has that he doesn't want to deal with himself. The details are as follows:
The owner's daughter and her boyfriend are currently occupying his property without paying rent. This has been going on for 5+ years and the father is looking to sell the property and pass along the tenant and subsequent eviction problem to me, the buyer. Of course, I will be compensated fairly for taking on this headache. I'm just wondering if anyone has gone through anything like this and what the process is? I should add that the property is in NJ. I think that even if it takes me 3-6 months to evict that the deal is still worth it based on the purchase price and the fair mkt value.
Thanks,
Mike