Raising Rents on a New investment.
If you are about to purchase an investment property as a long term buy and hold and the current rents are below market, what would you do? Would you ask the current owner to bring the rents up to market value before closing? Would you raise the rents immediately after purchasing the property? you might risk loosing the existing tenants and there are laws about how much you can raise the rent by? Or have done something else that has worked for you in the past?