Updated almost 3 years ago on . Most recent reply
How to BRRRR a property if there is already a current tenant
Hello, this is my first post on forums and I think it goes without saying that I am new to the real estate game.
While searching around for potential BRRRR deals on different websites, I am either finding properties in need of full rehab (which I'd like to stay away from on my first few deals) or finding properties that look to have good potential but have current tenants already renting.
My questions are: When buying a property with a current tenant, do you acquire them automatically? What if you want to BRRRR, do you evict them, or set them up with temporary housing until rehab is complete if they agree to pay the increased rent? Does a BRRRR require you to buy a property with no current tenants?
Thank you in advance for your knowledge and suggestions on this topic.