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Updated about 4 hours ago on .

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7-unit rental complex

Ila Darafshandar
Posted

A friend of mine recently bought a 7-unit apartment in San Diego. Since the rent roll was too low, she had to secure financing through a private lender that based the loan on market rent rather than the current rent. Despite the previous owner raising rents last month, she is still falling short by $5,000 each month. What advice would you give her on how to bring the units up to market rent?