So, I found this sweet deal on a four Plex with awesome cash flow potential. Three of the units are already rented out, and two of the tenants seem cool. But, get this – one of them is apparently an actual criminal. Like, my inspector told me he’s a bit of a loose cannon, and when I did some digging, turns out he’s been arrested a bunch of times in the past two years. Yikes, right?
Anyway, I already made an offer and it got accepted. We’re under contract and all that jazz. But now I’m second-guessing myself. Do I go ahead with the deal and risk dealing with this shady character, or do I try to protect myself from potential headaches down the line? I mean, I don’t wanna pass up on this killer investment opportunity.
My agent suggested we could add an addendum to the contract, stating that we’ll close the deal after the guy’s lease ends in July, and the property will be vacant by then. Sounds like a plan, but I’m not entirely convinced it’s foolproof.
Anyone been through something like this before? What would you do in my shoes? Hit me up with some advice or maybe a better solution if you’ve got one. I’m all ears and desperate for some guidance on this sticky situation.