All Forum Posts by: Victoria Imlach

@Jill F. great advice here and some thing I did not even think of. Thank you!

@Nicholas L. I appreciate the honesty. And yeah I understand I won't be talking to the seller directly. I think it's going to be pretty competitive so doubtful I get most questions answered but worth a shot I guess

@Jon Kelly repairs are a big one. I wonder how the seller would even be able to prove what kind of repairs they've done. I'll definitely be asking though. Thank you!

@Justin Hoggatt that's a great point. Wouldn't want to toss out a great deal for a relatively small issue. I probably have put too much emphasis on it being that this is my first deal. Thank you!

@Michael Dumler definitely helpful. I Santiago's want sure how I would check on lens and unpaid taxes so thank you!

I will be viewing a duplex soon and I want to make sure I am asking the right questions when I go. 

The obvious ones that jump out at me are:

1. Why are you selling?

2. What are the current tenants paying in rent? And can I see payment history?

3. What do the month to month expenses look like for the property?

4. Are there any unpaid taxes or liens on the property? 

Thanks in advance!

@Nathan Gesner this definitely sounds like the strategy I would be most comfortable with. It seems like it would be a challenge getting the units renovated or trying to raise the rent and balancing tenants who have been there for some time paying under market. Thanks for the help!

@Mat O'Grady Good advice. Seems like there are a few routes I could take and definitely some due diligence that would need to happen to verify the terms of the existing leases. I definitely would like to avoid the eviction process at all costs especially starting out, seems like it would be a tall order for my first property. I appreciate the help!

@Brandon Rush that's a great point. I am currently renting so it would definitely be more ideal to find an option with vacancy and avoid this altogether. I appreciate the advice!

I am looking to buy a triplex in Connecticut (CT) however all three units are currently occupied. The house needs some rehab on the inside and the tenants are currently paying under market (literally $800 for a 4bed 1bath unit market is at least $1000 if not more as is and with a facelift as much as $1500). For this reason I would be looking to terminate the lease of at least one of the tenants up front since I would like to house hack the property, live in one unit while fixing it up and move on to the next two as time goes on. Does anyone have advice for terminating the lease of an already occupied multifamily?