How to factor in existing tenants when analyzing BRRRR candidates

[Ryan Monty]

Hi all - I'm trying to get started with my first BRRRR project and I'm running into the issue of existing tenants. When I hear most people talk about BRRRR, it seems like they're maybe talking about vacant properties. You can get in a do the rehab without any interference. This allow you to cash out much quicker and reduce your holding costs, especially if you're using hard money.

I'm not going to be a cash buyer (at least not for the first one), so how would you strategize working with a property that is 100% rented at the time or purchase?

[Ryan Monty]

@Brenden Mitchum - thanks that's very helpful!  I've also thought that, once the eviction moratorium finally lifts, there's likely to be such a huge demand to get cases in the courts, it's going to take forever to get a hearing scheduled.  

Hadn't even thought (or knew about) using a vacant at close clause - that's a great idea