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Updated over 5 years ago,

User Stats

18
Posts
2
Votes
Chad Skiles
  • Investor
  • Wichita, KS
2
Votes |
18
Posts

Wholesaling a house with a tenant that needs to be evicted

Chad Skiles
  • Investor
  • Wichita, KS
Posted

I am talking to a seller who inherited a house within the last year.  She didn't know if anyone was living in the house.  The tenant had stopped paying rent and she didn't follow though on an eviction.  I drove past and there was clearly someone living there. She was obviously upset, but I told her I may be able to help her by buying the house.

How can I wholesale a deal like this?  Obviously my end buyers would not be able to inspect the inside with someone living there.

The ARV would probably be 58-60K. It's a rental class neighborhood. The exterior of the house looked to be in good repair. How low do I need to go to account for the unknown repairs on the inside?

Would the situation be the same if the tenant didn't need to be evicted?

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