Rehabbing a House with an Existing Tenant from Precious Owner

[Troy Gandee]

Hey everyone!

I have three contracts out on properties owned by the same seller that I have been marketing to wholesale. I've found a buyer for one. One is a little bit too expensive and I will probably list it in the Spring nearer the end of the tenants' lease (I am an agent in SC). Those are both fine. However, the cheaper of these three properties would make a decent rehab if my seller would come down a bit on his price. He has offered to sell it to me at about an 18% discount from the already discounted price. Normally, I would jump all over it, but the tenant recently renewed the lease. There remains about 9 months on the tenant's lease. It will cash flow for me. Even with the higher interest of the private money that I'm using. I would just prefer not to have to wait so long. My questions is; are my only options to either wait for the lease to end and notify the tenant with proper notice that he can not renew or will I just have to give cash for keys a shot and hope for the best?

Thanks a lot!

Troy Gandee