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Updated about 4 years ago, 09/24/2020

User Stats

192
Posts
50
Votes
John Britt
Pro Member
  • Property Manager
  • East Ridge, TN
50
Votes |
192
Posts

Should I move forward!

John Britt
Pro Member
  • Property Manager
  • East Ridge, TN
Posted

I have purchased a contract from another wholesaler that have 2 houses under contract for 20k.  My partner and I have found a buyer for one of the houses for $30k, but that buyer had me to agree for being responsible with getting the current occupant to move out in 30 days.  The current owner did not realize that he was still living there.  Also, the second house which the buyer does not want is condemned by the city.  My plan for it is to cut the yard and secure the house, but in order for me to know what the city wants fixed I have to request an open records request.  What do you yall think? 

  • John Britt
  • User Stats

    721
    Posts
    679
    Votes
    Jonathan Taylor Smith
    Agent
    • Rental Property Investor
    • Durham / Raleigh (Triangle), NC
    679
    Votes |
    721
    Posts
    Jonathan Taylor Smith
    Agent
    • Rental Property Investor
    • Durham / Raleigh (Triangle), NC
    Replied

    @John Britt - If there is better than not chance of getting a nice profit here, then certainly proceed. Problems that you can solve are what makes money for you where others got scared away. You may be able to get the occupant out with a "cash-for-keys" offer. However, in almost everyplace I'm aware of, it will take longer than 30 days from the point of first notice / contact to get a person out of a house if they don't want to go. But don't try any "self-help eviction" methods. And learn what is even possible with evictions right now in your area (related to COVID). And then is the occupant the owner or tenant with a lease or just a squatter?

    • Jonathan Taylor Smith
    business profile image
    Blue Chariot Realty & Management
    5.0 stars
    8 Reviews

    User Stats

    192
    Posts
    50
    Votes
    John Britt
    Pro Member
    • Property Manager
    • East Ridge, TN
    50
    Votes |
    192
    Posts
    John Britt
    Pro Member
    • Property Manager
    • East Ridge, TN
    Replied

    According to the current owner the tenant was ask to move a year ago.  But I have gotten the current owner to get him to sign a release of possession, releasing the house back to the current owner.  So I believe he is more of a squatter.

  • John Britt
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