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Updated about 9 years ago,
Valuing properties with under market rents
So I was wondering how to consider a property with severely under market rents. 30-40 units about 35-42% under market. I'm familiar with the area, own multi family in the area etc. Obviously raising rents takes time and at the current price the income is not worth it. But when raised, the deal makes sense after approx a 20% increase
How should I approach this? Thanks