#buy multifamily property

[themultifamilymindset]

The Advantages of Buying a Multifamily Property

Diving into Multifamily Property Investment! Looking to expand your real estate portfolio? Buying a multifamily property can be a game-changer. With multiple units under one roof, you spread risk and generate a steady cash flow. Whether you're a seasoned investor or simply starting, multifamily properties offer unique benefits. They provide economies of scale in maintenance and management, and they're often located in prime rental areas.

However, success lies in diligent research. Analyze market trends, understand local regulations, and evaluate the property's potential. Each unit is an income stream, and the property's value can appreciate over time, making it a long-term win.

Remember, being a landlord comes with responsibilities. From tenant relations to upkeep, it requires active involvement. But the reward? A multifaceted investment with potential for both immediate and long-term gains.

Ready to take the plunge into multifamily property ownership? Equip yourself with knowledge and strategy to seize the opportunities it offers.

[estesgroup]

Investing in multifamily brokers can be a difficult task, but it is well worth it. With a high demand for rental homes, multifamily apartments have become one of the most popular types of real estate investments. Multifamily buildings have become an attractive source of passive income for many real estate investors due to their strong demand. To know more visit https://estesgroup.net/services/multifamily-brokerage/ or call us at 601.362.9633.

[closingqueeen]

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[rickchohanrealtor]

Looking For Rental Properties In Toronto?

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[headspace-hotel]

Going through the bills proposed in the kentucky 2024 legislative session and some of the things being proposed are

make a PFAS Working Group

require homeless shelters to provide free menstrual products (it's actually disturbing that they didn't already)

require schools to provide free menstrual products

create harm reduction centers and lower penalties for possessing controlled substances

require insurance to pay for cancer screenings (okay. low bar but okay)

abolish the death penalty (actually has a couple republican sponsors)

decriminalize cannabis

make fluoridation of water in districts optional (?????)

make coal the "state rock" of Kentucky

Prohibit children from being interrogated in a "deceptive manner" (?)

Make weight discrimination illegal

pay schools to food grown at kentucky farms to provide for school meals at low income schools (hey that's rad)

Lower the age of carrying a concealed deadly weapon from 21 to 18 (?????????????)

Require companies to give their employees earned paid sick leave

Impose restrictions on the collection of biometric data by private entities

Allow poultry to be sold at farmers' markets and at farms

pay for cancer screenings for firefighters

let pregnant incarcerated people have midwives or doula services

require that public high school curriculum include instruction on the history of racism

Remove Robert E. Lee Day, Confederate Memorial Day, and Jefferson Davis Day from the list of public holidays (WE HAVE THOSE?!!?!?!)

Retroactively expunge some cannabis convictions

"Prohibit public school districts from expanding any resources or funds on diversity, equity, inclusion, and belonging or political or social activism; prohibit public school districts from engaging in diversity, equity, inclusion, and belonging" (HUH?????)

require schools to give kids a lunch period of at least 30 minutes (the bar is in hell)

provide scholarships for teachers to help the teacher shortage and give teachers compensation for planning time

require schools to have defibrillators

make it so a homeless person doesn't have to pay to get a copy of their birth certificate

require a working smoke detector to be present in any house sold (...did we not already have this?)

create the Kentucky Urban Farming Youth Initiative

Require local governments to lower minimum square footage requirements for housing, and facilitate multifamily housing, manufactured housing, and "tiny homes," and require that zoning laws have a "substantial connection to protection of public safety, health, and usage of property" (This could be a good thing??)

require hiring and licensing authorities to allow people convicted of a crime an opportunity to get a job

Propose a new section of the Kentucky Constitution that guarantees the right of an individual to buy, sell, or use a certain amount of cannabis and to grow a small amount of cannabis plants, and put this on the ballot (LET'S FUCKING GOOOOOO LET THE PEOPLE DECIDE please this would be so funny)

Now let's watch how many of the good and basic common sense laws get left to die by Republicans because Republicans are ghouls

this is why it's important to vote in local elections, this is the kind of stuff that's being decided upon

[fresh-bag-of-ham]

Wait sorry could you elaborate a little about that housing post? My experience (heavily influenced by college towns to be clear) has been that landlord corporations will buy up single family homes quickly for cash, which means that 1) there is a shortage of housing for people who want to purchase homes rather than rent, 2) the landlord companies are extremely predatory and rent to students charging them each $$$$ to live there no matter how many people are living in the house, and 3) building new housing, including multifamily apartments, does nothing to fix this because it's built by developer corporations that set ridiculously high rents and don't care if many of the units are unoccupied. I can see how the proposed legislation would do nothing but shift who's getting screwed over, but I don't see how "build more housing" on its own actually fixes the root issue if the new housing is just as expensive + it's still the predatory landlord companies owning everything. But I also don't know very much about this outside of my general observations.

Yes, I can elaborate!

There's a shortage of housing for everyone in the US, period, which is making the housing that does exist more valuable, period. This makes owning a rental property a great investment (super low vacancy rate!), and it also makes buying a condo purely as somewhere to stash your money for a while a great investment (price almost guaranteed to be higher when you sell it later!). All this competition does make it harder for people who want to buy a home just to live in themselves, but the investors they're competing against are reacting ""rationally"" to a general scarcity that already exists.

College towns, because of the relatively fixed base demand of students needing places to live close to campus, are unfortunately really prone to predatory landlords -- I mean, I was in college 2006-2010 when the housing bubble burst and there was basically no effect on student rent prices. All 25,000 of us students were still all competing for the same scrubby rental houses.

[much elaboration below the cut...]

What does affect the student housing prices is changing land use code to allow mid-rise apartment buildings. The new housing was expensive, top of the market, sure, but buildings are crazy expensive to build right now, and the building is also pretty nice. So suddenly the wealthiest 1,000 students are living in the brand new 20-story building with the in-house pool and gym, and now there's only 24,000 students chasing the same scrubby rental houses. The effect on prices is far from immediate, but after a few mid-rise apartment buildings go up, after you get maybe 5,000 new units to the market, people have more options and the natural vacancy rate starts creeping up? The owners of the scrubbiest rental houses start to worry. With so many other options for renters, do they have to lower rents to compete? Fix up their units? Or do they have to sell off a couple properties, maybe the ones furthest from campus? Or do they have to get out of the business altogether?

This is overly simplified of course, and, depending on other factors, increasing housing supply might only result in less upward pressure on rent prices, but you can actually see all the 'how to get rich without working' passive income bros start to freak out in real time on twitter when a town where they own a small rental empire starts upzoning and issuing building permits, because what they're exploiting to make money is housing scarcity.

There are a couple of general ideas around this floating around in various states of exaggeration that are misrepresentations or distortions of reality. To address a couple...

This video addresses the idea that inspired the proposed legislation from a few days ago, the idea that the housing shortage is being caused by Wall Street investors buying up single-family homes.

This article is really important in addressing something you mentioned, the idea that landlords "don't care if many of the units are unoccupied". The number of unoccupied units, otherwise known as the vacancy rate (and its inverse, the occupancy rate), is something landlords care a lot about.

This in-depth report describes a relatively new company that offers landlords not just software, but access to a dataset of all rental rates in their area. Not just asking rents for available listed units, but all rents being charged for every unit. Using this dataset, the software recommends that landlords set their rents some amount higher and accept a (slightly) lower occupancy rate.

The company had been seeking occupancy levels of 97% or 98% in markets where it was a leader, Winn said. But when it began using YieldStar, managers saw that raising rents and leaving some apartments vacant made more money. “Initially, it was very hard for executives to accept that they could operate at 94% or 96% and achieve a higher NOI by increasing rents,” Winn said on the call, referring to net operating income. The company “began utilizing RealPage to operate at 95%, while seeing revenue increases of 3% to 4%.”

I feel like people are imagining a building with maybe 20% vacancy? Maybe 30% vacancy if you were imagining a particularly greedy landlord?? But this article describes a shift from 2-3% vacancy (basically enough to allow a short turnover period between tenants) to 5% vacancy. And even that, the landlords could hardly stomach at first! Because vacant units feels like leaving money on the table, it goes against all their business sense.

But a shift from 2-3% to 5% vacancy still takes some units off the market, right? Well, yes, but a) I wouldn't call that "many", and b) in the grand scheme of things it means waiting a couple more months between tenancies. That's certainly not good, but the far more devastating effect of this scheme is that a small increase in the vacancy rate is no longer a downward force on rent prices.

So let's say they've been operating at 98% occupancy, charging $1000/mo rent. To take in 4% more revenue at 95% occupancy, that's basically a 7% increase in rent, $1073/mo. At that price, for revenue to fall back to what they'd been making before at 98% occupancy (which presumably was enough to cover operating expenses), the occupancy would have to drop to 91%.

So where this company would previously only tolerate maybe a 3% vacancy before dropping rents to fill their available units, this company now would tolerate a 9% vacancy rate in theory. Because of the demand for housing being what it is they're operating at 5% vacancy and just raking in profits like they describe.

On the one hand, this is definitely a huge problem. This company's software has become incredibly prevalent among landlords across the country, and the DOJ is currently investigating this company for antitrust violations because of the data sharing and price-setting that this company/algorithm has enabled. So that's encouraging!

On the other hand, this whole scheme wouldn't even be possible if we didn't have a housing shortage to begin with. In a housing surplus, the first building to fall below their vacancy threshold would have to start lowering rents and leasing more units to cover the difference, those additional units on the market would start to increase vacancy rates in other buildings and they'd do the same thing, and the whole house of cards would collapse.

tl;dr: Yes, the new housing itself (without subsidies from every level of government to build an affordable housing development) will likely be top of the market (after all, it's brand new) but housing scarcity generally allows everybody to jack up rents and behave predatorily, even the landlords of the oldest and shittiest rentals, and the only counter against that that doesn't leave somebody out in the cold is to increase housing supply.

[robertvilleneuve]

Robert Villeneuve West Nipissing - Is Multifamily Real Estate A Good Investment?

Robert Villeneuve West Nipissing: During these economically challenging times, people look for genuine investment opportunities. They want to invest in stable and low-risk schemes that offer them high returns. These kinds of opportunities take a lot of work to come by today.

Robert Villeneuve West Nipissing, a multifamily real estate expert, points out why you should own this type of real estate. You can outsource the management of the property to some experts. This will afford you quality time. You can buy such properties without investing any of your money. It is easier to get loans for condos or apartments than for a family home. You can easily cover cash needs by raising some private money.

You can safeguard far better leverage of your time and energy. You can maintain a 12-unit apartment over 12 individual homes. Valuation of income properties is done based on the profit they make. You can raise its value by increasing the rent and lowering the expenses incurred in maintaining them. You will start to appreciate the use of time and money.

There is less risk. You have a massive number of tenants and hence have many proceeds streams. Apartments are intended for business. In the case of a property, if you lose a tenant, you begin paying all the costs from your pocket.

In the case of multifamily homes, it’s pretty simple to raise the money. For instance, if you borrow 1M dollars, this now becomes non-recourse finance, meaning the asset is the only security to the bank for the loan, and you are not liable.

There’s a steep fall in subprime lenders of the loan. There are many people out there who can’t fulfil the terms and conditions for houses for which they raised loans, and as a result, there is a rise in foreclosures. There’s definitely a good demand for rentals.

As we discussed above, you have an excellent return assured for the investment if you go ahead and purchase multifamily real estate. A multifamily apartment is a perfect start if you are searching for a suitable investment venture. If you want to know more about multifamily real estate, you can ask for guidance from experts like Robert Villeneuve.

[strongintherealgay]

dreaming of buying a multifamily property with a bunch of friends and us all living in the units. means I can also raise one or two kids near my chosen family without them being forced to live with kids. the older I get the more this seems like something I could achieve.

[paperboi02]

Our guest speakers, Andy and Anthony, are Los Angeles area investors. They will be educating us on how we can make a lot of money house flipping and investing in apartment buildings in Los Angeles.
Andy and Anthony have achieved success as both flippers and multifamily investors. They are experienced Los Angeles multifamily investors. In 2020, they purchased a triplex located two blocks from both the Forum and the So-Fi stadium and only 15 minutes away from LAX. The location of the property makes it an ideal option for travelers from out of town. Originally, the property was a 3-plex but was expanded to a 5-plex in order to increase rental income. Anthony has been able to achieve significant success as a real estate investor, having scaled his buying and flipping business to over $20M in assets transacted within just 6 years. Andy has also been successful, having flipped and sold properties worth over $14M in the last 4 years.

[trickstarbrave]

i have like 0 money to do this with but im trying to understand zoning and shit bc my dream in live is to just have a big plot of land with me and my friends owning small houses on it and having a shared garden and hanging out regularly 

and i have learned zoning makes this like absolutely impossible. not like impossible-impossible but so prohibitively annoying and expensive that its a giant pain in the ass to even get off the ground. 

there is a city that allows co-housing like i described in various plans and methods of doing so that are approved with the possibility to do it other ways as well with city approval. so i started looking at land and housing with enough land to do that on in the area. most within the heart of the city were pretty expensive and/or small but some of the stuff of the outskirts is affordable esp with programs designed to help ppl buy homes. 

and then i looked into zoning of these areas. they are not zoned within the city, but unincorporated county parcels. and the county wants unincorporated land to stay rural and single family. you can have accessory dwelling units, but it has to be 1 per lot max regardless of size of your parcel, doesnt matter if its less than an acre, 5 acres, or 10 acres or more. you can subdivide, but with some of the minimum requirements of size for these parcels, that would also mean rezoning them as they would no longer meet the minimum requirements, so it would be both subdivision AND rezoning which would need approval, along with having a road paved between the divided property. you could simply rezone it to multi-family residential, except they are written in a way where if you want to make something multifamily residential they assume you wanna build an apartment or housing complex for rent, not a shared co-living community, and rezoning will require: talking with someone from the county zoning office to see if you have any leg to stand on, drafting a plan for what you intend to do with that land exactly, interviewing your neighbors and getting their opinions and approval on it, paying to hold a local meeting, and then a panel of people hold the meeting to take in all local opinions and hear any and all opposition, after which they decide if they want to approve or not approve it (or that you need to make changes to your plan/the land before they consider it). after that they will then make a formal decision, change it in the registry, etc etc and THEN i would be approved to have multiple dwellings on the property so my friends and i could make an intentional living community. if you go ahead and build anyways, you won’t be able to hook it up to anything bc then the county will find out, and if the county finds out either way they will rip the building down and fine your ass a lot of money

meanwhile an empty plot of land in the city limits that allows co-living construction isssssss 400k. lol. and that doesnt qualify for any assistance with purchasing it bc it doesn’t have a house on it. and there are no houses with lots big enough to put a bunch of small little homes on it, not without paying out the ass like 800k-1mil+

the fuck man

[themultifamilymindset]

Building Wealth: The Essentials of Purchasing Rental Properties

Purchasing rental properties is a strategic step towards financial growth. Rental income can provide a consistent cash flow, making it a smart investment choice. Location is paramount; choose areas with high demand and potential for appreciation. Research the local rental market to set competitive rental rates.

Budget for property management and maintenance to ensure smooth operations. Leverage can amplify returns, but it should be used judiciously. Consider the long-term benefits; property values tend to appreciate over time. Diversify your portfolio with different types of rental properties for added stability.

Stay informed about market trends and economic shifts to adapt your strategy accordingly. With careful planning and informed decisions, purchasing rental properties becomes a powerful tool for wealth-building. Ready to take the plunge? Start with research, understand the market, and lay the groundwork for a successful investment journey.

Also Read:

Basics of Real Estate Investing for Financial Success

Smart Approach to Purchasing Multifamily Rental Properties

The Essentials of Purchasing Rental Properties

Real Estate Investments for Beginners

Join Real Estate Investing for Easy Wealth Growth

[estesgroup]

There is a huge shortage of housing for all types of families across the country. Tennessee's multifamily real estate market is rising, so now is an excellent time to invest in these types of buildings to diversify your portfolio. The Estes Group can assist you in locating multifamily properties for sale in Tennessee that match your needs. These are five things to think about before entering the market. To know more visit https://estesgroup.net/five-tips-to-buy-multifamily-properties-for-sale-in-tennessee/ or call us at 601.362.9633.

[scentedflames]

 For the best cash offer, Quick close. Zolari Ventures buy Single-family, Multi-family, Commercial properties and Apartments, whether they are vacant or occupied.

[nurealtyadvisors]

Things to Know Before Buying a Multi-Unit Property

Buying a multi-unit property is a wise investment choice that can provide a steady return on investment and pave the way toward financial freedom. Whether you possess extensive experience in real estate investment or are a beginner seeking to acquire your initial multi-unit property, there are numerous vital elements to contemplate prior to reaching a conclusion.

Below are the five key things you should know before buying a multi-unit property.

Deep History: Before purchasing any property, it is crucial to gain a thorough understanding of its history and the surrounding area. Whether you are considering a house, a two-family home, a four-family home, an apartment complex, or a vacant lot, researching the area's history will provide valuable insights. By examining aspects such as neighborhood growth, crime rates, nearby amenities, and prospective infrastructure enhancements, you can obtain valuable insights to guide your decision-making process when choosing an investment location.

Follow the Builders: Keeping an eye on new home construction can give you valuable insights into the housing market. Builders often work tirelessly to meet the growing demand for housing, and they possess valuable knowledge about upcoming housing booms. By observing their activities and staying up to date with city development plans, you can identify areas that are likely to experience growth and increased property value. Relying on the top commercial real estate companies in New York can be a smart strategy to spot potential investment opportunities in multifamily properties.

Costs and Expenses: When considering the advantages and returns of owning multi-unit properties, it is crucial to factor in the expenses and costs linked to maintenance and operation. These include property taxes, insurance, repairs, upkeep, utilities, and fees for property management. Additionally, if you are considering purchasing a Multifamily building for sale in New Jersey or any other high-priced area, be prepared for higher expenses. Thoroughly calculate your anticipated expenses and create a detailed budget to ensure the investment aligns with your financial goals.

Choose the Right Tenants: Selecting suitable tenants is crucial when investing in a multi-unit property. Since you will be providing separate facilities for multiple tenants, it is essential to choose individuals who are responsible, reliable, and financially stable. Conduct thorough background checks to ensure they have no criminal records and verify their rental history to assess their reliability as tenants. Additionally, consider their compatibility with other tenants and their overall demeanor. Choosing the right tenants will minimize potential issues and maximize the rental income from your property.

Seek Professional Guidance: Navigating the multifamily property market can be complex, especially for first-time investors. Consider seeking the assistance of Multifamily investment real estate brokers in Yonkers specializing in multifamily properties. These professionals can help you identify suitable properties, negotiate favorable terms, and ensure a smooth transaction.