Updated almost 5 years ago on . Most recent reply
Buying Turnkey Multifamily Properties
I have noticed there are quiet a few of MFH properties on the market, mostly duplexes, on sale that already have tenants in it. Also some of these properties have remodeled rooms and exterior. I guess I am wondering if it's a good idea to invest in these established properties? The prices are fairly high, of course, there is not much wiggle room there, I think for the fact they are already in fairly good shape. So, is it worth pursuing deals like this? And why do these property owners decide to sell something that is bringing them money from rent? Does it mean there is something wrong with that property or neighborhood? Most of these properties are found on MLS or though the list I receive from realtor.
Just trying to gauge an idea what would stop you from buying into opportunity like this and what are the risks. At this point it seems unlikely to to BRRRR just because the property is appraised fairly high already. What are the advantages and disadvantages in this course of action?