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Updated over 8 years ago on . Most recent reply
1 bedroom apartments
I am looking at buying a 4 plex in fort wayne, IN. I have a pretty good feel for the numbers but with this being my first multi family I was wondering if anyone had some insight as to how much turnover I can expect with 1 bedroom apts. I am currently figuring in vacancy at 8% which assumes about 3 months a year. just wondering if anyone had any stories or advice for a starter.
also any other things I should think about when considering 1 bedroom apts.
Thanks!
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I cant speak for 1 bed apts seeing as the only multi unit i have currently rented is a duplex with 2 bed apts, but if i had the opportunity to purchase a 4plex of 1 bed apts in either of the 3 zips I'm interested in investing in...i would love to jump on that! Three months a year vacancy sounds like it wouldn't be common but better to figure that rate in to play it safe if you're worried about it, and if its still a good ROI with it, its probably not a bad investment. What zip if u dont mind me asking?