Where to buy Multi-family properties - 4 units and under

Question

Hello!  I'm new to this world and have no first hand experience purchasing properties, however I have been studying Real Estate investing for the last 2-3 months and am eager to learn everything I can.

Newbie question:  Where do I begin to look for Multi-Unit properties that are for sale? Preferably 4-plex's.  Where have you experienced investors had success in finding great Multi-family property deals?  Craigslist, MLS, driving for dollars?

Thank you in advance for any information/advice

Chris Martin · Answer

From a financing perspective, technically a 4 plex is not multi-family, but 1-4 family residential. Find a good broker and start there. They are your best resource staring out.

Welcome to BP.

Greg Larson · Answer

Wow!  Thank you for the input everyone.  I've began searching this morning and am seeing plenty of results.  Now that I know where to look, I shall keep studying and analyzing my market, and getting the down payment ready.  If you have any advice for someone just diving into this world I am all ears.  Thank you again everyone

Steve Bracero · Answer

@Gregory Larson

MLS listings daily sent to you from a realtor is your best option. If not you could look at zillow/trulia/redfin but their info is not always accurate.

For off market deals, you could look at CL (posting your own add), direct mail, bandit signs, networking, Driving for dollars, website, etc.

Robert Fiorillo · Answer

Loopnet or search your favorite MLS site and select multi or apartments. You can try auction.com as well, but it is just foreclosures.

Jason Muenchow · Answer

I personally stick to 2 to 4 unit buildings because of the residential loan aspect of it. Ive spoken to a few commerical lenders in my area about different properties, but honestly...the balloon payments in 10 to 15 scare me off.

Jeff B. · Answer

I'm always surprised to see preferences for 2-4 and shunning MFUs 5+ when the latter clearly out perform.

John D. · Answer

I have seen multis on realtor.com.  You just have to use the filter feature.  Welcome to the party @Gregory Larson

James Martin · Answer

Try Loopnet.com

Where to buy Multi-family properties - 4 units and under

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