I'm looking into acquiring my first multi-family and at the moment, I am leaning towards a preference for vacant units so that I can make needed updates and set rents at market versus having to process long-term tenants who may not be thrilled to see rents jacked up by $100/month.A lot easier to get someone in expecting $700/month versus telling a tenant who has rented for years at that location that they're going from $580 to $650.

I was surprised and thrilled and figured the buyers were never presented with my higher offer.

Or is it just me but the majority of the population gets really thrilled when they see a computer-printed "handwritten" letter?

I want to see steady income going in the bank account....like a regular paycheck that is about 3x to 4x the rent.I'm not thrilled with running a business with the X.   

some wont care.. and some will be thrilled and want to discuss them with you. 

The thrill of getting a great deal and watching it be transformed from a dump to a nice home and renting it out is something that's hard to replace in multifamily.

-A big reason I am not thrilled about this deal is there is not much value to add.. the place does not need really need work.

I saw earlier posts about the new law, SB 978, investor suitability requirements for trust deed investments.California now requires that when selling or brokering all of, or an interest in trust deed investments, hard money lenders and other providers have to:1) obtain information about the investor, some of which was not necessarily required under previous law, including, but not limited to* net worth* other investments* education or investment experience / level of sophistication* career history* age* income* tolerance for riskThere is a new form from the California Department of Real Estate that can be used to gather some of the information.The form, although it asks questions some of my investors are not exactly thrilled to answer, is not all that bad.2) The big part is that we now have to "consider the investor's circumstance and whether or not the investment is suitable for them."

I love theme parks and snowboarding is a thrill!

We are thrilled to have found the BiggerPockets community and the enormous amount of great information that is available about real estate investing!