Purchase price: $814,000 37-Unit - HUD Section8 HAP MultifamilyOverall the project was situated decently well at closing, occupancy was mid ~85%, and overall the property was in very nice condition.

The cost to buy a laundromat can vary widely depending on the size, location, condition of the equipment, and goodwill.

Here is my simple Top 5:1.Review the market – Understand the trends and conditions in the area.2.Analyze the property and the numbers – Ensure the deal makes financial sense.3.Visit the property – There’s no substitute for seeing it firsthand.4.Meet the team – Whether it’s your property manager, builder, or contractor, relationships matter.5.Complete inspections and appraisals – These protect you from costly surprises.If all these boxes are checked and the numbers work for your goals, then it’s likely a solid deal.

Most townies looking to gawk would come to an open house and open houses are usually done only for houses in nice move-in condition.

Although the rent was slightly higher than the market rate, restoring the property to livable condition after just one year cost over $15,000.The property isn't listed on major platforms.This is concerning.

Today you can get funding for a good deal without an issue, so the business model is kind of obsolete.I used to buy BRRRR deals, but over the last years, we switched to buying homes that are in move-in ready condition.

I'd say everything else is the consequence of the 2 points above - the weather and the state of economic affairs influences everything else, including safety, infrastructure, the condition of housing stock, etc.

I'm sure your lease and the law require the tenant to return the property in the same condition it was received, minus ordinary wear and tear.I would file again.

We worry about the hassle of dealing with properties in poor condition and not building enough equity.

However, we are able to offer this type of financing internally with our own funds on a case-by-case basis, taking into account the borrower’s profile, the property’s condition, and the scope of work.