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Updated over 5 years ago on . Most recent reply

User Stats

38
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13
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Sheena Lee
  • Rental Property Investor
  • Midland Park, NJ
13
Votes |
38
Posts

Do you prefer vacant or occupied multi-family properties?

Sheena Lee
  • Rental Property Investor
  • Midland Park, NJ
Posted

Do you prefer to buy multi-family properties that are vacant, or occupied, and why? I've had a lot of difficulty with two of the tenants I inherited in my triplex. Thinking next time I would prefer the property to be vacant, but worried about having difficulty financing. 

Most Popular Reply

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722
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386
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John Corey
  • London
386
Votes |
722
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John Corey
  • London
Replied

If you are talking about a vacant triplex, fine. If you are talking about a vacant, 100-unit property, the cash flow impact would be very painful.
Let's focus on the real issue. What problems did you have with the two tenants? Maybe there is a better way to onboard the existing tenants and get everything clear before you become the owner (estoppel agreement with each tenant)

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