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Updated over 6 years ago, 07/22/2018

User Stats

23
Posts
2
Votes
David Hald
  • Iowa City, IA
2
Votes |
23
Posts

questions about tenanted deal on duplex

David Hald
  • Iowa City, IA
Posted
hi everyone, i am in the process of analyzing a duplex, and I've just learned some new info about and I'm wondering what I'm missing about the implications of the following details: -duplex is tenanted already; duplex is priced quite low for the neighborhood, so interior condition is unknown -property is a duplex via an addition. it was originally built as a sfh. I know it depends on what it looks like inside, but does this spell disaster or extra future expense? -regarding tenants, what are my options? can I simply raise their rent as I slowly renovate? terminate lease? they are paying far under market and cash flow would depend entirely on raising the rent. I'm sure I'm forgetting something, but I was hoping the collective BP hivemind might be able to shed some light on the further risks or implications of thus newfound info on my prospective duplex. thanks in advance!

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