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Updated about 3 years ago on . Most recent reply

User Stats

27
Posts
16
Votes
Matias Torres
  • Investor
  • Southern California
16
Votes |
27
Posts

Question about tenants living in Long Beach/ LA county area

Matias Torres
  • Investor
  • Southern California
Posted

Hello BP,

Newbie RE investor here, looking to move into the multi-family space.

We are running into certain scenarios in which purchasing properties through VA financing is made difficult because the seller cannot deliver 1 of the units vacant (to fulfill the intent of use as the primary residence for at least a year check in the box).

Even with month-to-month contracts or no contract at all. Is it a kamikaze move to challenge the monstrosity bias the Los Angeles County has in favor of tenants? I would be open to going through giving said tenant (s) time to leave, but it seems as though sellers most time are scared to agree to hand you a vacant unit when there are tenants there.

Any thoughts are welcomed (the next stop after BP is a lawyer, but I am eager to hear the community's opinions).

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