All Forum Posts by: Bryce Hopson

Hi kris L, 

Yes it was in the contract that the tenants need to be gone by the date of the closing. Thank you for the help. 

Joe Splitrock, 

No The seller did not inform me of these needed repairs or share the paperwork with me. I just got the details straight from the tenant. Thanks again for the response. 

Bryce

Good afternoon everyone, 

I am a new investor about to close on my first building next week. Everything went smooth through the contract stages and then I just found out that the one tenant that was supposed to be out at the end of the month is not out yet and we are supposed to close Monday. Turns out that the seller is being sued by the tenant for lack of repairs to the building that I was unaware of. I put the closing on hold until the problems are resolved. Should I back out of the deal or should I proceed with the closing after the problems are resolved. Am I stepping out of my range if I go talk to other two tenants about the building? 

Thanks in advance,

Bryce 

Hi everyone, I am 20 years old and I am trying to purchase my first rental property via seller finance. I have found a great deal on a tri-plex and the owner wants to do seller financing, but needs you to get a pre-approval before he shows the building. With the lack of credit I have I can not get pre-approved. How should I go about this? 

Thanks in advance, 

Bryce