A Beginner's Guide to Finding Affordable Multifamily Properties

Finding a multifamily property is easy. Finding one that’s affordable isn’t.

Multifamily properties can be found around every corner of the real estate market, but finding one that’s affordable can be a challenge...if you don’t know where to look.

Here are ways you can find affordable multifamily properties:

Seek out “fixer-upper” properties

You might find affordable multifamily properties in poor condition, but sometimes that can be easily fixed in no time!

A savvy investor can find a run-down property and retouch it to make it more profitable than it was in its old life. Additionally, you can have a home inspector run it through to see what can be fixed and what needs to be completely replaced.

Check beyond city borders

If you can’t find any affordable multifamily properties in your area, consider seeking beyond your city borders.

It might be likely your affordable multifamily property may just be an hour or two outside your hometown.

Focusing only on your city’s properties won’t yield you much in terms of affordable buildings. As an investor, don’t settle with what’s available. Set your sights beyond the borders to find more affordable multifamily opportunities.

Scroll through the web

Anyone and everyone is selling a multifamily property through sites like Craigslist. Chances are, what you might be looking for could be a mere click away.

Set up alerts through real estate sites or even through a real estate agent who can let you know when an affordable deal is right around the corner.

The internet has so much ground to cover that there could be thousands of “for sale” signs up to be yours for the taking. A fantastic deal could be pinging up in your email sooner than you think, so get online and start searching.

Finding multifamily properties is easy, but there is a certain challenge in finding one that can be easily maintained and isn’t too costly.

An affordable multifamily property can be found out there. You just need to know where to look.