A great time to invest in Mutli Family Housing
Now is a great time to invest in Multi Family Housing.
As inflation is picking up and looks to increase over the next 18 months, expect interest rates to rise, which will cause some home buyers to have to drop out of the housing purchase market and will funnel into the rental market which is already experiencing a shortage. This in return will increase rental amounts which have increased 3 percent annually for four straight years!!! I have a client who acquired a 3 family last year for 75,000 per unit, and once his Leases were up, invested 10,000 in upgrades to each unit, then secured new leases with a 27% increase. Of course location is always a key element.