Triplexes or Fourplexes

[Chris Strandt]

Hey everyone,

I’m fairly new to real estate investing and I’m currently saving money for my first rental property investment. I want it to be either a triplex or a fourplex. 

Initially when I began educating myself, I wanted to begin with a duplex (easier to begin with for self property managing) but now I want to make the first deal a great one so I can get out of the rat race as fast as I can. 

So,  my questions are: what should I keep in mind while analyzing deals for triplexes and fourplexes that is different than duplexes? I figure obviously more units so more expenses for tenants moving out/moving in. Also, my market (Milwaukee/Waukesha, Wisconsin) seems to have very few triplexes and fourplexes, unless I’m just not using the right resources to locate them. What resources (real estate agent, Zillow, etc.) or other means would you use to locate triplexes and fourplexes? 

Thanks in advance everyone!

[Scott Schultz]

A little insight @Brandon Williams, Shorewest pulls data from the MLS's IDX feature, the most up to date data for non Realtors is Realtor.com.

3&4 units tend to be in high demand for the casual investor, the debt level is not terrifying, and most owner own maybe 1 or 2 properties, as a diversification play in their retirement strategy, this makes them highly desirable, and pushes the price up. They are great properties, and i would love to have a dozen or more of them, but the prices per door tend to push me away. good luck