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Updated about 5 years ago on . Most recent reply
Living in a multi family property
How do you determine asking price when purchasing a multi family property that you will live in. Example 4 Plex.
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Todd Dexheimer
#2 Multi-Family and Apartment Investing Contributor
#2 Multi-Family and Apartment Investing Contributor
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- St. Paul, MN
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Todd Dexheimer#2 Multi-Family and Apartment Investing Contributor
#2 Multi-Family and Apartment Investing Contributor
- Rental Property Investor
- St. Paul, MN
Same way as you determine the price for a multifamily you will not live in. You will not get money for the unit you live in, but put the market rent that you could get in your model. Also, be sure to add in repair expenses, property management, reserves, etc, as if you where not living there.
Eventually you will want to move out and if it doesn't make money, you will be stuck.