Quote from @Derick Hanna:
Quote from @Justin Lovelace:
@Derick Hanna the seller is responsible for delivering the property vacant. If they do not, do not close. Or did you negotiate something else? Before we close on any property, it has to be delivered vacant, and any tenant furniture, tenant junk, must be taken care of or we don't close. If they don't make it happen, we move on to the next deal. Don't have time to deal with that, nor should I have to.
Yes, I generally agree. It is the sellers responsibility, but it is still our problem at the end of the day. I am not doing a ton of deals. This is my first real estate purchase and it is a house hack. The deal is really good and we are having a hard time finding anything that comes even close to it in our area. We really want to close on time and move in. Good news is that it looks like the tenant will be out in time. Final walk through is tomorrow so we shall see! Thank you so much for the response.
That's good to hear. I do understand that pickings are slim at the moment, but at the end of the day, you should always protect yourself, your investments, and your capital even more. Which is why if a deal isn't working out for me, I generally tend not to force it. Sure, I get it, some times we do have to take a hit to make a deal happen, but generally I try to minimize those hits, especially in the beginning. I say this because this is the precedent you set for yourself and future investments.
Everyone's situation is different and this, obviously, applies to our investment goals. Personally, I try and keep my risk as minimal as possible, and in doing so, making my investment situations less stressful. You'll have plenty of stress once you are managing the property, especially if this is your first and /or you are just starting out. This is when the mistakes happen and when we learn from our mistakes as beginners.
Congratulations on all your efforts coming into fruition. Closing is an exciting day, just always remember to keep your emotions in check and don't force the deal if any additional hick ups come up. Remember, YOU are in the driver seat and if something don't seem right or the deal isn't looking as rosy as you had forecasted, pull over and reassess the situation. If that means walking away, so be it. Not trying to discourage you, just saying, don't let your emotions control your judgement that day. Numbers are numbers and they gotta add up at the end of the day. Simple as that.
Again, congratulations and good luck @ closing. You should be proud you've made it this far. Love it when smart work pays off.
