|
|
All Categories >
Which type of property is for me
|
| |
|
|
We would also use this as a place for our youngest daughter, who is a single mom, and mentally handicapped, to live.
|
|
 7 responses
|
 Flag Question
|
Posted: Jul 31, 2008 at 9:11 PM
|
Login To Subscribe
|
| |
 |
|
|
|
| |
If you have bags of cash: Multi units.
If you have to finance it then your personal situation must be analyzed.
If daughter can be considered an owner occupant, then financing may be favorable for a duplex, triplex or even a four-plex. Any thing over 4 is commercial rate which is generally higher interest and higher down payment and no discount for an owner occupant.
Oct 4, 2009 at 11:20 PM
|
Flag Answer As...
|
|
|
| |
Rob Jamie
Real Estate Consultant
Kennebunkport, ME
|
|
Couple of things you might not have thought of: Multifamily properties over four units are difficult to mortgage. You will have to go commercial and the rates (If you can even find a lender) will be high. Count on putting at least 25% down. You talk about but I have no idea what you mean. Cash flow?? Appreciation?? Tax writeoffs?? My advice would be to figure out why you want a multifamily and see if you can achieve the same results without becoming a landlord of a commercial multifamily property.
Aug 10, 2009 at 8:34 PM
|
Flag Answer As...
|
|
|
| |
Hi Elaine, Tom's right,
http://www.FinestExpert.com
is pretty amazing. Now, it used to be that the more units the better (more profitable), but with all the foreclosures right now, there are lots of single family homes that are better deals. This is where FinestExpert.com comes into play, because they let me search by the price discount ("You make your money when you buy" philosophy) and I can search by a cash on cash return. I can include these criteria and several others at the same time I am doing my location and property type searches, so it is all happening at once. It is saving me a ton of time because when properties comes up meeting my _financial_ criteria, then I already know they are going to be deals and I don't have to check on / analyze every last property in my price range.
Jul 2, 2009 at 3:23 AM
|
Flag Answer As...
|
|
|
| |
You could check
http://www.finestexpert.com
they gather and analyzes over 4-million active properties nationwide to provide the most up-to-date statistics on rents, values, expenses, and projected returns.
Jun 21, 2009 at 3:23 AM
|
Flag Answer As...
|
|
|
| |
Some people have found that buying a duplex and selling off one side is a great way to pay for the owner occupied side. Of course you need to find the right property to do this and confirm that it is possible on the property.
Best wishes on a successful search. Your daughter is lucky to have such helpful and concerned parents to assist her.
Jan 15, 2009 at 11:54 AM
|
Flag Answer As...
|
|
|
| |
happy new year...
anything over a 4 flat historically was a better investment..you can go as high as your budget will allow and how involved you plan to be..a 6 unit (free standing) was a better return on investment...and so forth...
but depending on location.and budget .if you want to just keep it simple.....you can also benefit from other options ..small house investment...or duplex..or condo...as well.
due dilligence before you make any decisions...discuss issues with a local reat estate investor specialist before you decide.
study local market trends...learn any projections for market values to come...etc.
depends on your available time...your handy-andy skills..and your budget...including..credit...etc
check out comparibles...rents...value appreciation or depreciation....generated income levels...capitalization index.
etc.
best wishes...
Mike Schneider, abr
Re/Max Superior
Chicago (northern Illinois), suburbs
www.just-ask-mike.com
847-659-0213
Jan 13, 2009 at 9:38 AM
|
Flag Answer As...
|
|
|
| |
Don't even hesitate, larger unit of course. Simply because economic of scale. Just picture this, suppose you buy 10 duplex (i.e. 20 units) that translates to 10 lawn to mowe, 10 roofs, 20 broilers... you get the picture. No you buy a 20 units apt building - that's one roof, one broiler, one lawn...
With smaller unit, you need to manage yourself (i.e. nightmare) because property manager either may not be interested or charge you higher fees. With large unit, you can hire property manager to manage the building while you snooze off.
if you want to learn more about larger unit investment, check out Dave Lindahl (rementor.com). He is the real deal (not just some guru who sell books and tapes but he himself is a real investor). He'll teach you so many techniques in larger unit investment and you would knock your forehead and say "why didn't I thought of that before"
Jul 31, 2008 at 10:49 PM
|
Flag Answer As...
|
|
|
| |
|
|
