BRRRR on an already rented property?
Hi There! I'm looking to get started with the BRRRR strategy and I'm currently looking at properties. I found a few multi-family properties that are in desperate need of some repairs and updates. After rehab, these units could definitely command much higher rents based on comps in the area. That said, some of these are currently fully or partially rented. My question is, has anyone done a BRRRR on an already rented property and if so, how did you go about it? Try to do rehab while it's rented and then bump the rents up after the leases expire? Attempt to get the property vacated before beginning rebab?
Thanks for any insight you can provide!