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Updated almost 5 years ago on . Most recent reply

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Need Help! Eviction Deal?!?!

Posted

Hello BP community! Hope everyone is doing well and had a great holiday weekend! 

My partner and I found a pretty solid deal on the MLS that we want to pursue, but we now have some reservations. I have my RE license and have been speaking with the seller's agent. So, there is a current tenant who has NOT been paying rent for a few months now. The seller hasn't started any eviction process, but his agent just said that the tenant needs to go. The seller has not had any recent communication with the tenant since they have basically gone dark. In addition, they have stopped caring for the lawn and we are now concerned if they also stopped caring for the interior as well.

This is completely new to us, so I wanted to get some insight from experienced investors who belong to the top online community! It stinks because it would be a very good deal for us from a numbers standpoint. I just would not know where to start, to be honest. Like, I understand the tenant could be potentially "bought out" but the seller has not given us really any insightful information other than that they need "to go". I sent several detailed questions to the listing agent, but all of the responses from the seller have been short and unhelpful. Ultimately, I don't know where to go from here considering the seller has not communicated with his tenant. 

Any help would be greatly appreciated. Thank you so much in advance!!

Best,

Mike

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