Multiple Family/Unit Rentals

[Kristen Ray]

Hello BP!

       We are new REIs in Maryland. We are looking at purchasing our first multiple family unit. However, we’ve noticed that most of the multiple family units in our area are very old. Most of them were built in the mid-late 1800’s and early 1900’s. Our concern is the older the house the more maintenance it will need. Moreover, we are concerned that if we buy and hold the property for a significant period of time it will be hard to sell due to the age of the building.

So what are your thoughts and experiences with purchasing older properties as investments?

In addition, we’ve noticed several multiple family units have few bathrooms. Thus, tenants from the various units would have to share bathrooms.

What have been your experience with such a set up?

Please share