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Updated about 4 years ago,

User Stats

18
Posts
3
Votes
Mike Harris
  • New to Real Estate
  • Galloway, NJ
3
Votes |
18
Posts

Buying a multi family house thats already tenant occupied

Mike Harris
  • New to Real Estate
  • Galloway, NJ
Posted

I am currently looking at a multi-family home to possibly purchase and house hack. A tenant has lived there for three years, has never missed rent, and wishes to stay. With what she pays currently I will have a negative monthly cash flow of about 115 dollars per month. Is it normal to raise the rent to make a profit or at least break even with the same tenant still occupying it? If not, would it still be a deal worth doing? I would assume so but I am curious what you all might have to say. Thank you for any input.

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