What To Do When WHOLESALING TENANT OCCUPIED PROPERTY

What To Do When WHOLESALING TENANT OCCUPIED PROPERTY

When you are wholesaling a tenant occupied property, here are the most important things you need to do:

1- Get the lease in hand. Know the lease. Understand the lease. Read the entirety of that lease and understand the details of it. You need to know if you'll be in a long term relationship with the tenant.

2- Communicate with the seller if they permit that you talk to the tenant. Most often than not, sellers don't want their tenant to know that the property is being sold.

3- Find out from the seller if they are holding any security deposits. Find out if there's any money that needs to be conveyed at title for missed rent or security deposit. You don't want a tenant coming back to you for a security deposit that you failed to collect from the previous owner of the property.
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