Whether you are looking for investment properties with Multi-Family Town Homes, Apartment Complexes or Single Family Parcels, you must consider, research and digest many pieces of the data collected. These types of investments can bring you the joys of residual income for years to come but they can also be a money pit. Once you find your investment you will need to determine how to manage it on your own or hiring a property manager to work along side you. When done correctly it is easy to see why investing in income producing properties are one of the best ways to increase your wealth along with the pride of ownership. Let's go through the steps….
First determine your long and short term goals, your ROI expectations, your financing options and your exit strategies.
Second pass this information on to a Financial Planner if you are not experience at the numbers game so that you can bounce strategies off of.
Third pass this along to a Real Estate Professional who knows the Multi-Family arena well and knows the market you are interested in. The key here is to ensure you have the Know – Like and Trust Factor with the agent that you will be working closely with.
Now the journey begins…..which is finding properties that match your goals. There are sites that you can use to search but many are linked to an agency holding the listing which may not be in your best interest so use caution…remember whom they are representing. There are some public sites such as LoopNet.com that will give you some of the listings on the market listed by all subscribe Real Estate Brokers but you would need to upgrade to a premium member if you wish to see all properties along with some tools to assist you in researching.
Below are some examples of current Multi-Family / Apartments on the market today. Not knowing your exact needs makes this list incomplete so it is important to reach out to me and we can put a game plan together. My immediate market is Tampa to Orlando to South Sarasota but have many connections to cover the rest of the state of Florida.
|NAME||LOCATION||# OF UNITS||SIZE||TYPE||PRICE|
|South Rio Grande||Orlando||188||212,304 sq ft||8.81 Acres||$ 2,716,000|
|Sunset Lakes||Lakeland||140||137,238 sq ft||Condo||TBA|
|Del Prado||Tampa||296||333,580 sq ft||Apts||TBA|
|Oak Bend||Tampa||112||111,232 sq ft||Apts||$ 6,900,000|
|Oak Forest||Tampa||26||36,000 sq ft||Apts||$ 1,299,000|
|Casa Nina||St Pete||16||8,600 sq ft||Apts||$ 1,848,000|
|South East St||Sarasota||4||2,745 sq ft||Duplex||$ 450,000|
|Pineapple Ave||Sarasota||mixed||11,792 sq ft||Mixed Use||$ 2,875,000|
|Garret Subdivision||Bradenton||15||16,000 sq ft||Mixed Use||$ 1,300,000|
6 Steps to Avoid a Bad Residential Or Multifamily Rental Investment
Investments reviewed from these perspectives will prevent excess risk, assure return assumptions, and contain over optimistic expectations from the investment.