Multi family housing Right now

[DeMonte Dinkins]

Giving the circumstances ... just going against the grain right now. Is it a decent idea to go buy a multi unit property, 3-4+ & charge the bare minimum rent during the first years lease? Then maybe a 15% increase.? Feel free to freestyle with the numbers

[Ryan Daigle]

Hey @DeMonte Dinkins,

If you find a depressed deal, or distressed seller, in a market you like long term then it's always a great time to buy. Just make sure your numbers include very conservative estimates and the deal works even with low rents AND high economic vacancies.

Also, when thinking about 15% rent bumps – that kind of increase will almost always mean the existing tenants will leave. If you're ok with the resulting vacancy and turn costs, fine. But a less disruptive approach might be to gradually increase rents over 2+ years to try and maintain occupancy AND rents.

Good luck!