1-4 door multifamily Investing

Albany, New York
General Real Estate Investing
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1-4 door multifamily Investing

Nick Anderson
Member since 2021 · 4 posts · 2 votes

Hi, I am new to investing and I really like the residential 1-4 multifamily asset class. Especially single family home long term rentals. Subject-To entry has looked interesting. Does anyone have any experience with it? I am located in New Jersey but focus is from Yonkers all the way up to Albany County area in New York. 

Thank you!

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Account Closed
Real Estate Broker · Boca Raton · Member since 2022 · 18 posts · 9 votes
1y

Shawn is spot on. 3-4 units with conventional financing are a great way to start. FHA 4 family is no better way to start your investment journey. If I could start over again I would get a 4 family owner occupied and go from there.

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  • Shawn McenteerBusiness Member
    Realtor · Boonton Township, NJ · Member since 2013 · 2k+ posts · 1k+ votes
    1y

    Hi @Nick Anderson small multi is all I focus on.  It is a great asset  class because it allows investors to fly beneath the radar per say. Large multi is where the majority of wacky laws are.  The biggest thing with sMFR is avoiding the towns that have strict laws.  Are you thinking of leveraging a house hacking strategy? Great way to acquire properties quickly in our market.

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  • Account Closed
    Real Estate Broker · Boca Raton · Member since 2022 · 18 posts · 9 votes
    1y

    Shawn is spot on. 3-4 units with conventional financing are a great way to start. FHA 4 family is no better way to start your investment journey. If I could start over again I would get a 4 family owner occupied and go from there.

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  • Alecia LovelessPro Member
    Member since 2019 · 3k+ posts · 2k+ votes
    1y

    @Nick Anderson Start small, 1-4 units and get your feet wet. Then after you have a couple of deals under your belt you will be better able to decide if going slightly larger for better economies of scale makes sense for you.

    I started with 5 smaller deals and my last 3 have been 5-10 units. It’s a bit more tricky due to more tenants but after a while it just starts to make sense.

    Currently I am willing to do any size deal from 1-15 units that makes financial sense to me.

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  • Nick Anderson
    OP
    Member since 2021 · 4 posts · 2 votes
    1y

    Thank you all. Great insight from everyone. An FHA loan on a 4 family makes total sense. That's the new target, thank you.

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  • Nick Anderson
    OP
    Member since 2021 · 4 posts · 2 votes
    1y

    Does anyone know any solid lenders?

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  • Account Closed
    Real Estate Broker · Boca Raton · Member since 2022 · 18 posts · 9 votes
    1y

    Nick some good multi deals in upstate NY. They actually probably still cash flow and you can buy units for cheaper than they cost to build. Depending on what kind of deal you do I have lenders I can suggest. 

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