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Updated about 5 years ago on . Most recent reply

User Stats

15
Posts
8
Votes
Eddie Maynard
  • Investor
  • Chicago, IL
8
Votes |
15
Posts

Better to have triplex leased when trying to sell or open?

Eddie Maynard
  • Investor
  • Chicago, IL
Posted

Hey BP, looking at long term goal of scaling up for multifamily and will be considering selling a triplex in about a year. We have added some pretty good value and negotiated a good original deal that should give us the return we are looking for. My question for the forums is whether it would be better to sell in which of three scenarios:

A. Longer term leased signed for each unit at or near market rent

B. Month to month or short term agreements in place

C. Vacant property where we would time renovations in other two units to coincide. 

2/3 units are currently month to month and slightly under market rent (Plan is to reno them over the next year) with tenants that were inherited a couple years ago. The largest unit was completely renovated and at market rent.  

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