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Updated almost 6 years ago,
Trying to learn the Multifamily model and how to assess deals
I currently have 3 vacation STR properties (1SFH, 1TH, 1Condo) with a 4th (condo) in the works, all in tourist areas. I really like the STR model for a couple reasons but primarily that I feel like I can get as much if not more revenue and less wear and tear on the property. Separately I have 3 flips (2 fix/flip, 1 resell) under my belt, that went well. I am looking to build a real estate model that is diverse in the types of properties. I prefer to buy and hold but will take on flips that are a good deal to increase capital. I am really interested in Multi-Family units but don't have any experience in evaluating these deals. There are a couple I am looking at in a vacation area that I would like to use them all for STR but may mix in some long term tenants to help with cash flow during the off-season. Additionally, I would like to establish some Long term rentals in non vacation areas, SFH or MFH. Wanted to see if other BP members are using a similar tactic in any of their investments and based on this info what other members thoughts are on the matter.
Thanks for any and all opinions.