multifamily evaluation process

3 Replies

Hello everyone, I am looking to get into multifamily housing and Im just wondering what I should look out for, (negative or positive) and are they the same to evaluate as single family homes. Also on a side note should I get a mentor to show me the ropes, do I need one, or not.  Thanks for all the feedback ahead of time bigger pockets community. 

Hi @Howard Thomas , I am a big fan of investing in multi-family properties.  Basically, the analysis process is the same, however, you might need to pay for water, sewer, trash, and landscaping depending on your area.  You should not need to get a mentor, but I would recommend starting with a duplex and grow once you have at least a year (or a vacancy) of experience.  

it depends on several factors. Are you investing in a turnkey, moderate rehab or full rehab?

Other questions to ask is whether the property has a current tax exemption or tax abatement which is set to expire?

In larger cities, you have to research how the rents are regulated. In NYC where I am located there is rent stabilization and regulation laws?

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