Be prepared to justify this to the seller, perhaps by highlighting the extensive rehab costs.Rehab Costs An $80K rehab budget on a multifamily property is substantial.

Additionally, my extensive knowledge of the local area gives me a competitive edge over other investors.2.

It comes from buying distressed assets and fixing them or re-arranging the property to make it perform again. 

Depending on the property's location, it could perform very well as a co-living asset (3x of a traditional rental).

Curious what you're basing your numbers off of- I'm guessing the 2023 numbers are going to be a far more accurate prediction of future performance.  

This woman might not be able to afford your apartment currently, some people might consider your apartment a steal of a price, and others will stretch their budget to be able to afford it.

Not sure how extensive your furnishing is. 

It's just gonna be peppered in with more stretches of loss. 

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

These top performing homes have an annual occupancy running a bit higher at 62% and ADR is higher for those, about 10 homes, at $580.