Multi family homes for sale are, by far, among the best types of residential real estate properties. Whether it’s a duplex, triplex, fourplex, or large apartment complex, these multi-unit real estate properties are extremely lucrative in 2019 and will continue to be so in the US housing market 2020. So, how can real estate investors find multi family houses for sale to take advantage of this? We’ve compiled the 6 best ways to search for multi family homes for sale!
Related: How to Find Investment Properties for Sale in 2020
Check Out Local Multi Family Real Estate Listings
Unfortunately, real estate investors can sometimes overcomplicate the search for multi family real estate for sale. They may initially resort to spending a lot of money and time scouring for investment properties, only to find out that their ideal property listing was just down the road. Before investors consider any other option, they should look around for local multi family real estate listings. “For Sale by Owner” signs, newspaper and magazine ads, and word-of-mouth information can oftentimes reveal profitable investment opportunities. After searching for a local multi family property for sale, real estate investors can move on to different methods of looking for multi family properties.
Hire a Real Estate Agent
It’s ok to admit it. Sometimes, we all need some help from professionals. Whether you are an aspiring or experienced real estate investor, consider hiring a real estate agent to aid in your hunt for the best multi family real estate investment. Real estate agents use investment tools and their expansive network to search for multi family homes for sale.
However, keep in mind that some agents are specialized in some property types while others are not. In your search for a helpful real estate agent, be sure that your agent of interest is qualified and experienced to find multi family real estate listings. Use Realtor.com and Mashvisor’s list of licensed real estate agents to find the best agent for you.
Related: How to Find an Investor Friendly Real Estate Agent
Search for Foreclosed Multi Family Properties
Foreclosures are another source of multi family homes for sale, especially affordable ones. Foreclosed multi family properties are real estate properties in which an owner has not been able to pay the property’s loan in proper time. The property becomes distressed as a result and is seized by the lender. First the property is offered in a foreclosure auction. If the property does not sell in the auction, the lender will attempt to sell it as quickly as possible. By doing so, the foreclosed multi family investment property is sold below its market value. This makes this type of multi family property for sale very inexpensive for a potential buyer.
Learn About Multi Family Properties for Sale Through Auctions
Speaking of foreclosed auctions, real estate investors can also find multi family homes for sale through auctions. Although ordinary auctions are not always foreclosed auctions, these multi family properties are still sold at cheap property prices. There are a multitude of sources for finding auctions. Be sure to check out sheriff sale auctions, private auction companies, and online auction websites, namely Auction.com.
As great as auctions are for finding multi family homes for sale, there is a considerable downside to them. This con is that auction transactions tend to involve cash more than a typical property sale. While it depends on the specific situation, some auctions only accept cash as the property financing method.
Participate in Open Houses
Taking part in open houses is another common answer to the question “how to find multi family homes for sale?” For those who don’t know, a real estate open house is when the seller of a property shows potential buyers the property for sale. Participating in open houses has many benefits for finding multi family homes for sale. For starters, an interested buyer can directly and quickly reach out to the seller to view the property and learn information about it. As a result, the selling process can take place considerably faster.
Use Mashvisor to Find the Best Multi Family Homes for Sale
The last (and best) way to find multi family homes for sale is to use Mashvisor. Mashvisor’s tools provide two important functions that are necessary for finding multi family homes for rent: a neighborhood analysis and a multi family investment property analysis. In addition to this, you can find off market multi family homes using Mashvisor’s tools as well.
Mashvisor’s real estate market analysis, or neighborhood analysis, is the first step to find the most profitable multi family properties. The analysis breaks down a location, neighborhood to neighborhood. Mashvisor’s heatmap then allows investors to search for areas based on many filters such as listing price, rental income, return on investment, and many more. Once a real estate investor has found a location he or she is interested in, they have laid the foundation for buying multi family homes for sale.
Multi Family Investment Property Analysis
After settling on a location to find multi family homes for sale, real estate investors can begin searching for properties. With Mashvisor, investors can find properties using its investment property search tools. Property filters such as rental income, return on investment, property type, and others are used in the investment property search. Then, investors can understand the property’s potential profitability through Mashvisor’s multi family real estate investment analysis, conducted by Mashvisor’s multi family investment calculator. The property’s expenses, income, strategy, and much more are revealed during this analysis. This allows real estate investors to learn how to maximize their property’s success.
Related: 3 Investment Property Search Tools to Find Multi Family Real Estate
As previously mentioned, foreclosed investment properties are an excellent source of below market value, affordable real estate. If you’re interested in foreclosed and short sale multi family properties, then Mashvisor’s Property Marketplace is all you need. Mashvisor’s Property Marketplace allows investors to select a profitable investment location. It then presents foreclosed, short-sale, and other off market properties in that area.
All in all, multi family homes for sale are top-tier in residential real estate. There are a vast amount of methods to find these properties, ranging from finding advertisements in your neighborhood to using Mashvisor’s investment property tools. To start finding and analyzing multi family homes for sale with Mashvisor, click here to start your 14-day FREE trial!