Home Buying in Weston>Question Details

Jean, Home Buyer in London Court, McAllen,...

I AM in the UK and quite keen to buy a house ($150,000 to 250,000) in Fort Lauderdale e.g. Weston. Is it possible to find a house with a tenant ?

Asked by Jean, London Court, McAllen, TX Thu Sep 9, 2010

I have been trawling Trulia for quite a while and have not really seen properties already tenanted for sale. Alternatively, how good is, realistically, the rental market (long term/short term) in Lauderdale? I do not need a tenant to service a loan but would not like to keep an empty property.
Your opinions and advice would be a great help.

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Answers

14
Meir Aloni CRS, CDPE, RECS’s answer
Hi Jean,
I'm a Real Estate agent since 1985 and A landlord (for multiple properties) since 1987...
It might be possible to buy a property with a tenant renting it already. BUT, will this be the best option for you? I'm not so sure.
I believe the most important first step is to find the RIGHT property for you.
IF the property is in good shape and presented correctly, I can rent it within 2 weeks or so..
However, most landlords use a standard Lease with many holes in it; I'll NOT recommend to take over such a Lease.
Over the past 25 years I put together a VERY strong Lease which stood the test of local courts (when tenants needed to be removed) and passed with flying colors...
With enthusiasm,,
Meir Aloni & Team

CRS (Certified Residential Specialist)

CDPE (Certified Distressed Property Expert)

RECS (Real Estate Cyberspace Society)

Successfully selling Broward County since 1986!

Direct phone# 954-338-5220 http://www.WeSellBroward.com

All Star Realty Inc.
0 votes Thank Flag Link Sun Oct 21, 2012
Hello i specialized in investors overseas and can offer them the property and Also the management i could help choose the property and a Team to help with the maintaince thanks
Jesús cárdenas browardrealtor@comcast.net
0 votes Thank Flag Link Fri May 25, 2012
Hello Jean,

Yes, Yes, Yes, most of our investors are doing just what you propose. Buy and are being very sucessful in renting their home investments in Ft. Lauderdale. Because of the displacement of short sale candidates rents are in demand. By all means, let's work together to get you a home to rent in your price range. Norma.
0 votes Thank Flag Link Thu May 24, 2012
Yes. You just have to look carefully.
0 votes Thank Flag Link Mon Oct 31, 2011
we can locate a property with a tenant
0 votes Thank Flag Link Thu Feb 24, 2011
There are very few properties already tenanted in this area for sale, however, the rental market is very strong and you would not have a problem getting the property rented immediately after purchasing.
0 votes Thank Flag Link Thu Sep 9, 2010
Yes, it is possible. Also you can place a tenant withing couple months after you purchase the house. It is better to look for an house that fits into your criteria and after purchase look for a tenant.

Please let me know if I can assist you to find the house to purchase.

Regards,

Sedat Celik, Realtor

sedat@celiks.com
954-661-2565
http://www.easternbroward.com
0 votes Thank Flag Link Thu Sep 9, 2010
The vacancy rates for South Florida homes remain very moderate. Broward county rate is 6.8% and forecast predict a vacancy rate or 3% or less by 2012.

If you would like information about an specific listing or would like to receive information of available listings in Weston. Please contact us at marthav@iconam.com 

Regards,
Martha Velez
Web Reference: http://www.iconam.com
0 votes Thank Flag Link Thu Sep 9, 2010
Jean,

Anything is possible.....however, we would recommend the possibility of purchasing the property first and then, finding a renter. From our experience, it will be much more difficult identifying a condo with a tenant already in place.

The appeal of certain areas can vary greatly from area of a city to another. Our recommendation is to be sure your location has rental appeal before making a commitment.

Good luck,

Bill
0 votes Thank Flag Link Thu Sep 9, 2010
yes, it is possible to get a property with a tenant already in it. It's ture that it's hard to find whether there is a tenant or not. A realtor can help you better, since they have access to more information.
Contact one in the area you're looking in and should be able to help you.
My other advice would be this: target short sale properties, because most of the time they either have a tenant or an owner still living there who might be open to negotiating a lease with you.

Good Luck!

Elena Ollick
Amerivest Realty
Faith Home Loans
239-206-4500
eo@oceanhomesrealty.com
http://www.andrewollick.com/realestateblog
0 votes Thank Flag Link Thu Sep 9, 2010
Hi Jean,
Great questions. Currently, we have a lot of sellers who would like to sell, but had not been able to, and so are now renting their properties. In some cases, the properties go into short sale and the owners themselves are looking to find a rental, and so can be the tenants, or the sellers need to sell and are looking to price right. In any case, if you cannot find a property with a current tenant, then finding one is not that difficult if the property is in good condition and desirable location. Weston/Ft. Lauderdale is within my market place and I would be happy to assist you. Let me know if I can be of further assistance,
LMH
0 votes Thank Flag Link Thu Sep 9, 2010
Actually, IMHO as an investor, a better way to do what you're trying to do is to find/acquire the property first, find the tenant--and get a commitment--before you close, and place that tenant after you've closed on it. This way you'll have more control over the screening process and lease.

Ft Lauderdale has a good rental market. Some friends and I used to reside down there, and we loved it. Whether you're into SFHs, small/medium/large multi-family, or something else, there are lots of opportunities and options down there.

I also invest down there as well as in Palm Beach County. Feel free to bounce any questions on me.
0 votes Thank Flag Link Thu Sep 9, 2010
Jean,
It is possible to find a property that has a tenant who would like to stay. A Realtor would be more likely to have access to that information, as it is not always listed in the remarks. You could always place a property for rent after you make the purchase. Rentals are in great demand and tend to go quickly after being listed for rent.

Please let me know if I can be of help to you. I specialize in Weston and the surrounding areas, and would be happy to help you. If you send me your specifications, I can send you properties that are currently available.

Best regards,
Stefanie Cohen
Prudential Florida Realty
954-547-9203
Scohen77@aol.com
0 votes Thank Flag Link Thu Sep 9, 2010
Hello Jean

Yes it is quite possible to buy a house with a tenant, or we can buy a house that is in foreclosure in the process of foreclosure, which would be cheaper, and we can easily find a tenant for it within a month or 2. In addition, we can manage the property while you are away, as we are a full service real estate company. Please provide a phone number in the UK or an e-mail so I can start sending you available properties. Please feel free to contact me with any question or concern
0 votes Thank Flag Link Thu Sep 9, 2010
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