Buy Property Vacant Or Occupied?
Should I buy property that are 100% occupied or vacant. What are the pros/cons
Should I buy property that are 100% occupied or vacant. What are the pros/cons
Well, for starters I would like to ask you what is your investment objective on the houses you're proposing to buy?
If you're buying rental properties, it's almost always a good thing to have good tenants already in place. if you're buying rehab properties, you'll have to wait for the people to move out before you can close and/or begin your fix-up.
hard to answer without more information.
last year i bought a duplex, i inherited 1 decent tenant and one trouble maker for me and the neiborhood where the property was located. ask the seller a lot of questions about the tenants, also check the rent rolls. have they paid on time, are they consistantly late, do they complain about every little thing ECT...
conscider how long its been since the last rent increase. one way to help move a bad tenant out is to keep raising the rent, and stick to the late fees if there are any