5 Units, now what do i do?

[Patrick Gibson]

I am a bit of a new investor, currently have 5 units under 2 roofs, but have a 5 unit building I am eyeing and I am not exactly sure how to quickly BRRRR it to get my initial investments back. There are definitely some opportunities with the property (long term tenants=less than market value rents,owner pays heat,space to add additional bdrm in each unit). Id expect to have the turnover, construction cost and additional carrying cost for 6 months. Once turned over, when and how would i get my capital back? Any advice would be much appreciated.

[David Walkotten]

@Patrick Gibson 5 units is treated commercial so the bank is going to look at the property from an income vs expense perspective. Raise those rents and then see what the bank will lend you. Typically no “seasoning” but might cap lending based on purchase price.