Buying an apartment building as an investment can be a great way to make passive income, but it’s only great if the tenants are paying a fair amount of rent.
In today’s story, one young adult wants to buy an investment property, but in order to make a profit, he would need to evict one of the tenants.
He’s not sure what to do.
Let’s see the full story…
I’m a young person and I’m looking to buy a rental property as an investment.
After searching for months, I’ve found an incredible opportunity with a specific property.
It has 4 units which are all currently rented out.
3 of those units have fair market rent and 1 of those units has an individual who is paying 50% of market rent for the unit because he’s been there for 10 years.
He knows the previous landlord well and was able to get a great deal when he first moved in and the seller hasn’t raised the rent on him since.
He wants to evict the tenant who is paying less than everyone else.
Now, in order for the investment to be worthwhile for me I would need to evict this tenant in order to raise the rents.
I can evict the tenant legally by claiming to move in, moving in for a while and then turning around and re-renting the unit once he’s gone.
I wouldn’t mind moving in temporarily either while I find someone else to rent.
I could use the time to paint and modernize the unit.
He’s considering buying a different property instead.
That being said, I could just opt to invest in another property where I don’t have to evict someone from their unit.
This would mean I would make less money but there are still other profitable units out there.
Realistically, any other investor would do the same, but I’m questioning whether I want to participate in this type of behavior.
AITA for wanting to invest in this property, leading to this guy getting evicted out of his apartment?
I wouldn’t want to have to evict someone either.
Let’s see how Reddit reacted to this story…
This reader thinks he shouldn’t evict the tenant.
Another reader votes for not evicting the tenant.
This person thinks evicting the tenant is “scummy.”
This reader has a good idea…
One person points out the bitter truth.
I like the idea of giving him a new lease.
Same result but less guilt.
If you thought that was an interesting story, check this one out about a man who created a points system for his inheritance, and a family friend ends up getting almost all of it.
