How To Search For Income Multifamily Properties, Duplex, Triplex, Fourplex, In Greater Phoenix.
September 20, 2009
3 ways to start the search for investment income properties.
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We actually provide several different search methods which include two self searches: these are property searches you can perform yourself.
1. The first is a more visual search and a very popular search: about 10,000 people search using this one.
2. The second multi-family search is a new search with a little less information, but it's very similar to the search Realtors use.
3. Another way is to simply tell us what you're interested in and we'll create an automated e-mail update search for you and simply keep an eye out for properties that may interest you.
Viewing multifamily properties does have it's limits. The main problem is that in this segment very few provide photos. The other common issue is the lack of financial data and even it it's there it may be proforma which is really worth less.
The better way to get financial information is to study the income/expense books once the property is under contract, but you can't do that for a vacant lender owned property. It has to be a combination of what you get from the seller and some market assumptions based on experience and similar properties, but I'm getting off topic.
The buying process of a any type of multifamily property is very knowledge, time a labor intensive. We have first hand experience with not only partaking in nearly a hundred multifamily transactions from a duplex to medium sized properties we are also hands on investor having owned many properties and being active owners of small multifamily properties.
