Buying a home that’s fully rented

[Tanisha Haughton]

I’m in love with a triplex that is for sale and is already fully rented. Great price, Great location, great home. At the time of closing I plan set an agreement to move only one tenant out. The leases are m2m. Any tips you guys can give?

[Theresa Harris]

@Tanisha Haughton  Have you had rental properties before?  If not, make sure you get copies of the rental agreements from the landlord and the security deposits.  Verify the rents are correct and the tenants are current on all their payments.

Why are you moving one of the tenants out?  If it is for you to move in, as Tim said, make sure the contact states that the unit is to be vacant at closing and confirm this.