Should i buy this multi family?

6 Replies

There is a four unit for sale and the numbers work out great. The only problem is there is two vacant apartments and my ex husband lives in an occupied apartment and an elderly man wants to move because he’s afraid of the rent being raised. If the old man does stay, that still leaves the owner to get two tenants, get rid of my ex and we would be in a unit as well. Should I put an offer in contingent upon the owner getting 3 out of the 4 units rented? What about if they don’t find someone by closing? It would be such a waste of time. Help!
@Fred Frontstone I’m sorry. I meant when it was full with us living in a unit the numbers work out really well. My ex already said if I was buying the unit he would be moving. Also I know my current boyfriend would have a problem with it and probably my ex’s wife as well.

So, a couple of things.... 1) if you know your ex is moving when you buy the place, you have to disclose that to the lender, so they wont use that income anyway. 2) there are lenders that you can use even if there are vacant units, you'll just have to look around 3) I still wouldn't want the seller picking my tenants, that's a recipe for disaster.