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Updated about 4 years ago on . Most recent reply

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2
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Nathan Gear
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4
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Evictions for owner occupied multi family during covid

Nathan Gear
Posted

I am in the process of buying a 4 Unit multi family property In the Long Beach, CA area. It would be owner occupied 5 % down conventional. The problem I'm running into is I would be buying the property with all 4 units occupied and don't know if I can give one of the tenants a 30 day notice to meet the lenders qualifications and actually live in one of the units. Tenants are month to month..If anyone has any experience with this during covid and has any advice that would be appreciated..

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237
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Aaron Merriman
  • Investor
  • Long Beach, CA
56
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237
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Aaron Merriman
  • Investor
  • Long Beach, CA
Replied

I am very active in Long Beach.  For this to move expeditiously, you'll need to get the current owner to play ball with you and help you work with the tenants. Maybe there's somebody that's willing to move out. Most likely though you'll need to pay someone to move and you'll need to put something in writing with the existing owner so that he is covered on his side for any lost rent.

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