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All Forum Posts by: Nathan Karner

Nathan Karner has started 1 posts and replied 2 times.

General Landlording & Rental Properties

Post: Buying a Property with Renters with back rent

Nathan KarnerPosted
  • Kansas City, MO
  • Posts 2
  • Votes 1

so from what I have seen is evictions cost 500-1000 from what Iv seen online and it takes about 3 months in the worst case.  The sale price was at 210k, they accepted my second offer at 186k in AS Is condition  . It Has a yearly GPI of 28k a year.  So I think it's under priced for the market it's in.  But with the as is contingency I feel like something may come up in the inspection...

0 Votes
General Landlording & Rental Properties

Post: Buying a Property with Renters with back rent

Nathan KarnerPosted
  • Kansas City, MO
  • Posts 2
  • Votes 1

Has anyone had any experience with buying property with renters that need to be evicted?  I'm look at going under contract on a fourplex that is 100% occupied.  Two of the renters have back rent. I was wondering how to word the contract so that assuming the renters back rents and security deposits?

My though would be to give them their security deposit back and forgive their debt if they leave.  Otherwise I'd just go through the normal eviction process.

1 Vote