Thinking of buying a tenant-occupied rental? It’s becoming a hot new investor strategy, and there are even sites like RoofStock and Mashvisor that are designed for investor opportunities, enabling the easy purchase and sale of tenant-occupied homes. If you are curious about this strategy, here are four benefits:
Buying a tenant-occupied property allows you to take advantage of immediate rental income.
- As soon as the purchase of the home goes through, you will take over the lease, and therefore, the rental income.
Buying a tenant-occupied property allows you to save money on advertising expenses and agent fees.
- If your plan is to rent out a property, you will have to spend money to find tenants. If you already have tenants, any advertising or realtor fees is a moot point.
- Every month without a tenant in place for an investor is a month they have to cover a mortgage and utilities without any income.
- You won’t have to paint or change out the carpets with tenants already living there.
While there are clearly ample benefits to purchasing a tenant-occupied rental, be sure to do your homework and due diligence to make sure the property is a good investment for you. See our blog post “Tips for Buying a Tenant-Occupied Rental."
For more guidance on buying a tenant-occupied rental, see this guide on confirming quality tenants from Avail. If you are looking for tenant-occupied rentals, check out RoofStock for high quality investments. For guidance on how to sell a tenant-occupied rental, see our blog post “3 Creative Ways to Sell a Tenant-Occupied Rental.”
Related: Forbearance vs. Deferrals, Rent Forbearance Programs- Develop a Plan
