Buying a Unoccupied 3 family

[Joseph Tarallo]

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 ... 

[Wade Sikkink]

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.