5 DO NOTs when Buying multifamily property

blog-thumb1

Buy Multifamily 1.  DO NOT–Buy the cheapest priced property (among the competition). Often times the cheapest asking prices are for a very good reason:  terrible condition, poor unit layouts, cut up/converted units (versus built-that-way traditional units), electrical heat (versus gas furnaces or boilers), bad financial condition (tenants don’t pay on time, etc). 2.  DO …

+ read more

InvestProp vs. Zillow

blog-thumb1

Sell Multifamily Question:   How do I know the value of my small or medium sized multifamily property in today’s market? Answer: NOT by checking Zillow! Discussion For the sake of brevity, we’ll focus today on one small property–a duplex in St. Paul.  Currently, Zillow.com has 440 Jayne Street valued at $154,531.  Currently, InvestProp …

+ read more

Broker “Fee”

blog-thumb1

InvestProp Glossary: Broker Fee (formerly “admin fee”) A fee in addition to a commission (typically %, but sometimes flat fee) paid out at closing to the Broker (not the agent) by the Buyer or Seller of Real Property pursuant to a Buyer’s Representation Agreement or Exclusive Listing Agreement (seller).   [Note:  InvestProp has NEVER …

+ read more

Cap Rate

blog-thumb1

InvestProp Glossary: Capitalization Rate (Cap rate for short) Rate of return on a real property asset with a given Net Operating Income or “NOI” and Property Value.   Cap rate = NOI/Property Value Cap rate is a financial metric used to analyse the investment return of a given real property.  This basic use of …

+ read more

HELP! How do I look up the rental license history?

blog-thumb1

Multifamily owners and investors. If you have purchased multifamily, chances are you’ve looked up the rental license history of a property.  If not, it is a good habit to get into (as a note a good multifamily broker provides this service).  Whether you are horse trading with your neighbor or working through brokers, one …

+ read more
  • Property Alerts

    * indicates required
  • Tags

  • Recent Posts