Buying present tenants. - Posted by Michael(KCMO)

import · February 17, 2005, 3:42pm

Posted by Michael(KCMO) on February 19, 2005 at 17:02:45:

nt

import · February 17, 2005, 3:42pm

Posted by Michael(KCMO) on February 17, 2005 at 16:42:55:

I’m looking at a package purchase of 5 or more homes from a local investor who has accumulated several MH’s over the years and rents them out. Well, now he’s getting out of it and wants to sell them all off. Most of the homes are empty, but some currently have tenants in them. And that leads to my question:

What should I look out for when buying a property w/ a tenant already present? I know I should have a copy of the lease, see payment history, know how much they put down for deposit, and that sort of thing. I’m just asking for other advice to make sure I have all my bases covered. This is new territory for me. Also, what about an estoppel letter? Does anyone have a copy of one they wouldn’t mind emailing to me?

Thanks for your help,
Michael Stilfield

import · February 17, 2005, 6:58pm

Re: Buying present tenants. - Posted by Barry (GA)

Posted by Barry (GA) on February 17, 2005 at 19:58:29:

Michael,

Here is one-
http://www.creonline.com/wwwboard/messages/62820.html

Good investing,
Barry (GA)