A lot of people are investing in real estate these days to meet their long-term financial goals. Multifamily property choices are key figures in the real estate market because multifamily housing is seen by many as the most affordable housing option.
What is a Multifamily Property
A multifamily property is a property that contains two to four units within the same building structure. A multifamily property can be a duplex, quadplex, condo, small apartment, or townhome. In comparison, properties with five or more units are considered commercial real estate. Multifamily properties are considered an investment and can typically be purchased with a residential-type loan.
How to Build a Winning Real Estate Investment Portfolio
A real estate portfolio is simply a collection of real estate assets. It can include properties such as small multi-family buildings, rental properties, and commercial properties. Here’s how to build a winning multifamily property portfolio:
• Start by learning thoroughly about real estate investing.
• Write a business plan to guide your efforts. That plan should include investing goals, an investing strategy, and a financing plan for purchasing properties.
• Look for the features that make a rental property attractive. Research and learn about your market. That includes understanding population growth, the local job market, renter-occupied households, rental unit growth, and location.
• Research your financing options.
• Find potential properties to invest in. Start small and don’t “bite off more than you can chew,” as the old expression goes.
• Proceed to make a property purchase. Get an inspection and a solid appraisal, then negotiate good purchase terms.
• Gradually scale up your portfolio.
Seek Expert Financing Assistance
Contact Means Commercial Capital to get the financing assistance you need. We have a large portfolio of business loans to serve a variety of business needs. Including construction financing, commercial real estate financing, and fix and flip financing. Our professionals will work with you to develop a loan to match your needs. We’ll help you get the means to meet your dreams.