Buying a Property with Tenants

[Anthony Green-Parker]

Does anyone have any experience with buying a property that already has tenants living in the home? How did it turn out? What are some things to look out for? What are the pros and cons?

[Matthew Jordan]

@Anthony Green-Parker You first should ask yourself why a landlord is selling a property with tenants in place if they are good tenants. Ask to see the lease agreements and proof of payment for the last 6 months. Ask what was used to screen them. You don't want to get stuck with horrible tenants not paying rent, that were not vetted correctly from the beginning.