What Touring 3 Multifamily Properties Taught Me

After 10 years and going through hundreds of properties, I continue to learn something from every walkthrough. We are in the midst of aggressively looking in our local market for small multifamily properties (3-8 units). Therefore, I have been reviewing a lot of opportunities and just came back from walking through three: a fourplex, a triplex, and a 5-unit.

Two of these properties were mixed use (storefront and apartments), and the other property was just apartments. Each property had an interesting story, so I thought it would be helpful to share my learned lessons. Remember, most properties you walk through are NOT going to work out. However, you do have the opportunity to learn something from every property to help you become an even better investor!

Let’s get some discussion going! What lesson have you learned during your recent walkthroughs of multifamily property?

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Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.