Your Multifamily Investing Challenges

[Mathew Kuhn]

Hi All!

I've been a long time lurker on BiggerPockets, but working on getting more involved in the investor community - specifically, the multifamily side of things.

For those of you who own, manage, are looking for, or new and trying to get into multifamily properties - what are some of the major pain points you've found? I'm guessing that finding deals is probably a big one in this market, but I'm curious if there is anything else that would make your life significantly easier if it were solved or improved? 

Thanks,

Matt

[Percy N.]

@Mathew Kuhn, what size property are you asking about?

For a larger multifamily (100+ units), the work just begins once you close.

Having good staff (manager, leasing and maintenance) is vital. There will always be issues with some residents and those will take up a majority of your time and effort.

Then there will be the occasional pipe bursts, small fires, etc.

Dealing with tax appeals, tax returns, insurance shopping.

If you have investors, keep them updated and informed throughout. Depending on how many investors, they will have differing opinions as well.

And then of course any refi or sale can be as involved as an acquisition.

So in short, there will be plenty of things to keep you busy after you find the deal and close.