Buying a Unoccupied 3 family
I am in the process of buying a 3 family house in central NJ. It is vacant due to the fact the house needs to be fixed up before renting out. I'm worried about after I get it fixed up and in good shape that I will have a problem getting it rented. What are some good strategies I can take to make sure I get top dollar and rented asap ...
Most Popular Reply
Sometimes it's hard to get top dollar AND get it rented quickly. Offer something unique or different in your rental. Here's what we did one time.
We bought a 4 plex that was empty. It was 4 two story town houses in a single building. Each unit had w/d hookups. We went to the local used appliance store and negotiated a package deal to put a w/d in each unit. Then we advertised the units as having a w/d in them, which was very unusual for this class of rental (C+). We also asked for slightly above market rents for the size and condition of the units. We were full in 2 weeks and the w/d were less expensive than 1 month of vacancy.
Good luck.