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Updated over 8 years ago on . Most recent reply
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Seeking input on exercise analyzing Multi-Family deal
Hello all.
I am a newbie and step one for me is saving for a down payment and practice analyzing deals. However, I think my expectations are out of whack and need input on how I should refocus.
My initial strategy was simple, find and analyze Fourplexs deals in the Lexington, KY (or Bluegrass area) off of Zillow. HOWEVER Zillow returns zero Fourplexes. I don't get it Lexington has a population of 300,000 you would think I could at least find 1 deal to analyze. Is this common? Also since my goal is practice (while I save a downpayment)), maybe I should analyze any fourplex deal nation wide OR should I just broaden my local search from fourplexs to multifamily in general? I am 100% sure that I want my first purchase to be a multifamily home in the Bluegrass area.
Also I've heard that ZIllow and other housing sites do not contain all property for sale and that I would need to contact a Real Estate Agent for a more thorogh list of my target area's property. Is this true? If so could I in theory call a Real Estate agent and ask them to send me automated properties? Do they charge for this?
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Have a nice day, Bob.