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Updated 18 days ago, 12/10/2024

User Stats

144
Posts
35
Votes
Jennifer Fernéz
  • Investor
  • Reading, PA
35
Votes |
144
Posts

Buying a property with bad tenants

Jennifer Fernéz
  • Investor
  • Reading, PA
Posted

Hi all,

I'm new to investing and saw a 4-unit property this week.   I like it and the numbers look decent.

Pro Forma is 7.21% and CoC ROI is 10.04%.

However one of the tenants is late for rent ($1,000 in late fees this year), a smoker and their unit is hard to even be in.   It's the biggest unit of the 4 with the highest rent.

What can I expect with this tenent?   They are month to month.   What is the etiquette in evicting?   Sorry to sound cold.

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