Updated almost 8 years ago on . Most recent reply
Multiple Family/Unit Rentals Issues
Hello BP!
We are new REIs in Maryland. We are looking at purchasing our first multiple family unit. However, we’ve noticed that most of the multiple family units in our area are very old. Most of them were built in the late 1800’s and early 1900’s. We lived in a fully updated Victorian home built in 1925. And although we took stellar care of the property the property required a lot of maintenance (we lived there for 5 years).
So what are your thoughts and experiences with purchasing older properties as investments?
In addition, we’ve noticed several multiple family units have few bathrooms. Thus, tenants from the various units would have to share bathrooms.
What have been your experience with such a set up?