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Updated over 8 years ago on . Most recent reply

User Stats

29
Posts
14
Votes
Omayra C.
  • Investor
  • Orlando, FL
14
Votes |
29
Posts

Efficiency Apartments

Omayra C.
  • Investor
  • Orlando, FL
Posted

Hi 

I had a very old guy contact me, he owns 18 units and they are free and clear but my problem with it is they are all Efficiencies, they are only 70% occupied with long term tenants because the rents are very low and he has never raised them. The property does have defer maintenance and he manages himself and he wants to get rid of the property because of failing health. Should I stay away from this type of property due to it being just efficiencies.  I have been taught that the best properties are the ones with a good unit mix. Any advise?

  • Omayra C.
  • Most Popular Reply

    User Stats

    311
    Posts
    229
    Votes
    Anthony Chara
    • Investor
    • Centennial, CO
    229
    Votes |
    311
    Posts
    Anthony Chara
    • Investor
    • Centennial, CO
    Replied

    How close is the complex to any Theme Parks, colleges or business centers? You could potentially fix them up and rent them out on the AirBnB market and do very well. An alternative to a hotel for some folks.

  • Anthony Chara
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