Here is our roadmap for investing in multifamily properties, finding and acquiring these types of opportunities:
What We Look For
It’s been said many times before, but location is of the utmost importance for real estate investors, and even more so when investing in multifamily properties. With more tenants, each and every unit will need to appeal to renters; location is generally the most desired criteria. When investing in multifamily properties, investors should pay attention to high-growth, high-yield areas where properties are in high demand, well-maintained neighborhoods.
Than we determine the income of the property can accrutely. Sites like Rentometer.com or Craigslist are helpful sources for verifying rental prices and income, but our team practices due diligence, taking everything into consideration.
For those looking to remain conservative, the 50 percent rule is a general recommendation: 50 percent of a real estate investment’s income should be spent on expenses — not the mortgage. While too mild of a strategy for some, it’s a good rule of thumb for beginner investors.