Question Details

Greg, Home Buyer in 91423

Buying a property with a TORCA tenant...

Asked by Greg, 91423 Fri Jul 11, 2008

Why would anyone do this if the mortgage payment would be higher than the tenant is paying in rent? It's my understanding you can't evict the tenant to live in the property.

Is the idea you eat the rest of the payment simply for the equity of the property? Or is the goal to raise rent to a profit? But I thought you could only raise rent a certain small percentage per year. What am I missing?

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