Older multifamily properties, like the one you’re considering from 1920, can be solid investments, but there are key areas to assess carefully.

I’ve been following much of the research you suggested, like inspecting the property and assessing comparable homes in the area.

We went to assess it and in the morning we texted them that we are calling for an exterminator.

Each property will have to be assessed individually to see what way or strategy works best. 

After visiting the property and assessing its suitability for an ADU, I negotiated directly with the owner, emphasizing my plan to enhance the property’s value.

As soon as I got it, I reached out to the HOA management company with my deed and started paying my monthly assessments. 

@Renay Reese, I agree woth your need assessment.

On the flip side to investors , other than the obvious advice to do your due diligence and stress testing seriously, also do the important work of self assessing your own true risk tolerance, ultimately defined by “are you comfortable losing it all” in a particular investment or asset category.  

Additionally, it’s challenging to assess the demand for student housing in the area.

Sharing the potential challenges he might face, rather than discouraging him, allows him to assess whether he’s ready to tackle them, increasing his chance of success.We’re all here to help each other grow, right?