I am looking at buying a multi family unit that has 3/4 of the units already rented out. What do I need to know going into a deal like this? First time buying a pre-rented property
Real Estate Investor · Hayward, CA · Member since 2015 · 134 posts · 88 votes
5y
Ask to see tenant applications and ask if tenants are current on the rent and are not affected by Covid. Walk thru each unit and meet each tenant (Facetime works for this). We just bought a duplex with two tenants and kept them. They are great and pay rent early each month. It's a win-win because we can do repairs gradually while getting rent as well. Just do your screening...best of luck.