Category Archives: BUY Multifamily Tips

5 Things You Should Never Do When Buying Multifamily Property

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 …

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

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 …

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Welcome to Minneapolis, you owe us $450!

Multifamily owners and investors: If you are looking to purchase a 2-4 unit multifamily property in Minneapolis, don’t forget to add $450 to your budget. Why?   Well, Minneapolis passed a regulation stating, “Whenever a valid rental property changes ownership, it must be inspected for compliance with minimum housing standards.”   See the Change of Ownership …

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InvestProp U: Select a Location

Volume 5 Select a Location A deal on a small multifamily investment property located across town may seem too good to be true.  Well, that is just it, it might not be the property for you.  With small investment properties, the returns are much greater if you own and manage most of the property …

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InvestProp U: Pre-Approved Financing

Volume 2 If you are ready to submit an offer on a multifamily property, are not paying all cash, and don’t have a specific plan to finance the property, it is time you find a financing solution.   In today’s market, sellers of multifamily properties have no interest having their property tied up by …

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