Since multifamilies are investment properties, calculate the current income of the property. Make sure your potential income exceeds your monthly costs, including multifamily mortgage, utilities, taxes, property management, repairs, and ongoing maintenance, such as lawn care or snow removal. Location is of paramount importance to real estate investors, even more so when investing in multi-family properties. With more tenants, each unit will need to attract tenants; location is generally the most desired criteria.
Investors should look for high-growth, high-yield areas where properties are in high demand and well-maintained neighborhoods when investing in multifamily properties. Occupancy rates are one of the most important factors to consider when buying a multifamily property in New York City. The occupancy rate will directly affect the rental income generated by the property. From there, Brandon began buying both single-family and multifamily rental properties, as well as fixing and changing single-family homes in Washington State.
