Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 6 years ago on . Most recent reply

User Stats

40
Posts
17
Votes
Martin Tyler
17
Votes |
40
Posts

First mult unit property

Martin Tyler
Posted

Had a meeting with a guy selling 44 unit apartment in a small town. Numbers are good. 10% cap rate. But it’s a mom and pop ran place. His books were with a pen and pad. And looked like he did them that day of our meeting. No one is under lease. No one has paid a security deposit. He knows all the tenants by name and was his own property manager. He says he is always a 0% vacancy. It’s my first multi unit property to purchase. Can someone give me some advice. Or just words of encouragement. Something!! Anything!!

Loading replies...