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Updated almost 4 years ago on . Most recent reply
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My first Duplex Under Contract
I just got my first duplex under contract in St Louis I’m 19 and I work 70 hrs a week the duplex is fully occupied, one tenant on a month to month the other on a year lease I have to kick someone out to live there for my fha financing
I need some tools and tips on how to kick someone out and collect rent from current tenant
Thanks
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- Real Estate Broker
- Cody, WY
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The best option is to make it part of your purchase agreement. Require the seller to have the units empty or caught up on rent 1-2 weeks prior to closing. Your purchase is contingent on inspection to verify completion, just like a repair request.
If the Seller is unwilling/unable to empty them, then you have to decide if you want to proceed and take that on. As a first-time buyer, I recommend you hold out or that you hire a good attorney to handle it on your behalf. Evictions can cost you a lot if you screw it up.
One last note: cash for keys should always be a last resort and is completely unnecessary in the vast majority of cases. People rely on it because they are unwilling to do the hard work of learning how to get rid of tenants legally. I highly recommend you purchase "Every Landlord's Legal Guide" by NOLO, a book full of practical advice and your state-specific laws. It is a great foundational book for any Landlord.
- Nathan Gesner
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