Tucson Multi-Family Buy and Hold Search

[Austin Nieves]

Hi BP Family.

I am working with a team that has already helped my parents purchase a couple properties in the Tucson area. I am partnering with both of my brothers who live in Los Angeles and San Francisco and work full time jobs. I have partnered with them to help with the down payment for a buy and hold property. We are looking for a multi-family property under 200,000 with a 8% cap rate and have been on the hunt the past couple of months. We have been under contract once and have had a couple other good opportunities but not the right one yet. Our realtor is taking into account expenses, mortgage, taxes, repairs, vacancies, property management fees, and everything else that needs to be considered.  I am doing my best to learn about industry and put myself in a position to build a portfolio. From the little that I have given you, I am curious what you think about the numbers that I am looking for and what i can add or change to my search to best set myself up for success.

Thank you everyone!