Small Multifamily investing

[Peyton H.]

Hi all,

I just moved back home to Marietta and am looking to buy a small multifamily with an FHA loan in the North Atlanta area. I have been saving up my cash reserves and researching this strategy for some time now, and am ready to pull the trigger. I have already begun my search and the hard part is finding the right property. I was wondering if anyone has any recommendations for 203k lenders, agents with investing experience, or general advise for finding and purchasing a property like this in the Atlanta area.

Thanks in advance for sharing. 

[Azeez K.]

Hi @Peyton H.

In regards to tips for finding Multi-family properties:

1. Reach out to Realtors in your farming area and set-up different searches for MF properties that match your criteria.

2. Property Management companies - seek out a few property management companies/property managers in your farming area and inquire about properties or landlords wanting to off-load MF properties.

3. Network - with fellow investors, property managers, Realtors, wholesalers etc and let them know you are looking for MF property to acquire. 

4. Auction - Periodically look at auction websites such as johndixon/hudson marshall as they have MF properties for Auction. You don't need to pay all cash in most instances as you can finance and close these properties in 30 days.

5. Commercial Site: Check out sites like LoopNet/cityfeet for MF Properties. 

6. Commercial Broker sites- Check out commercial broker sites like BullRealty and individual broker sites as they sometimes list smaller MF properties could be duplex, triplex etc. 

7. Craigslist - You can find some MF properties on Craigslist. However, I have never had luck with this approach.

8. Marketing - Send letters to MF property owners. 

In regards to 203K lender - PM me and I will send you contact information. In general the valuations for MF are high..majority of the properties on MLS or FMLS won't cashflow so look for value add and re-position type properties.

Hope this helps! Good Luck