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Updated over 3 years ago on . Most recent reply

User Stats

101
Posts
28
Votes
Freddie Williams
  • Rental Property Investor
  • Norfolk, VA
28
Votes |
101
Posts

Unstable 8 plex, would you pursue it and how.

Freddie Williams
  • Rental Property Investor
  • Norfolk, VA
Posted

Have an 8 plex that is up for sale. Problem is it is only half full. The sellers are motivated to sell. Can it only being half full how would you pursue financing on a deal like this. Thanks.

Most Popular Reply

Account Closed
  • Investor
  • Scottsdale Austin Tuktoyaktuk
4,163
Votes |
4,205
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Account Closed
  • Investor
  • Scottsdale Austin Tuktoyaktuk
Replied
Quote from @Freddie Williams:

Have an 8 plex that is up for sale. Problem is it is only half full. The sellers are motivated to sell. Can it only being half full how would you pursue financing on a deal like this. Thanks.

For a half full 8 plex I would want to know why it's only half full. I looked at a 16 unit in Dallas that was half full. It turned out the half that remained weren't paying rent and the reason why is that gangs don't pay rent, I guess. Since gangs are "above the law" I did the math and figured I could do better else where and avoid the flying bullets at the same time.

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