Let’s Play Buy, Pass, Counter Offer
Hi BP-ers! I have the option to purchase a 4plex in Los Angeles for $607,000. I will be putting 25% down loan will be around 5.6% it is an older building and has all long term tenants under rent control meaning I cannot make them move. Right now they pay in total around $4,000 and I have to pay only their water as utilities. Once/if they move the rents could be raised probably a couple thousand more in the current market.
I would love your opinion on the opportunity and what you would reccomend and do in the situation.
Thank you