Updated about 9 years ago on . Most recent reply
These tenants are freaking me out!
So I have analyzed this 4plex as best I can, it seems like good deals on paper - and then I went to see the units...
I am now getting nervous about the condition in which some tenants keep the rentals. Nothing horrifically disgusting or anything- more like borderline hoardery stuff - like for example, 8 boxes stacked on top of each other labeled "movies", stinky cat box, bottles of paints all over the kitchen table with just STUFF everywhere. I am having visions of these tenants leaving and me having to clean out these units. Am I just freaking myself out for no reason? Should I let these weird/ somewhat gross units scare me away from a deal that seems good on paper? Also it seems fair to say these 3 particular tenants I'm thinking of have been there 5, 11, and 14 years! I'd love to hear any thoughts on this. Thanks!!
Heather
Most Popular Reply
S#itholes can work to your advantage. Whats putting you off can also put off others. If the property showed like the Ritz there would be a line of buyers out the door.
Look past the mess and if the numbers work and you can envision a better future under your management then the dumpy look now might get you a better price.
Throwing out garbage and cosmetic fixes are no big deal.