Inherit tenants or vacant

[Kesha Ferguson]

We are working on and living in a quadplex now, but we have decided that we don't want to be landlords. We are going to sell this, once we do a bit more work. We are still going to invest, but maybe a different strategy; fix and flips. Still undecided.

Just wanted to know if most investors prefer to purchase a vacant property and screen tenants themselves or if they prefer to  have the apartments occupied?

Thank you

[Simon Ashbaugh]

For me it depends on a couple things

1) Is it rented at or very close to market rent? In Ohio there is no rent control, but you may lose tenants or they may stop paying if you raise rents suddenly when their lease renews.

2) Does it need work to pull market rent? If it needs work, its easier and quicker to have vacant so you can start the rehab right away.