What are we not looking for in Multi Family?
What are we not looking for in Multi Family?
What are we not looking for in Multi Family?
I have already written a number of posts about Multi-Family and its management.
I get a lot of inquiries with questions about the subject and there are a number of important points for clarification.
First, what are we looking for? What is a good deal?
Are we as entrepreneurs looking to buy property that produces on paper at the moment 8-10 percent?
Are we looking for a property that is populated with 90-100%?
Are we looking for a million dollar property?
No no no again!
As entrepreneurs the money are made in the purchase rather than the sale.
We are not looking for an upscale property, not looking for a property that looks good, the money is in trouble.
I buy multi-family I'm not looking to buy a beautiful packaged product nicely I'm looking to buy trouble, and some are more bundled up that way I see the potential.
What is trouble?
Tenants who do not pay.
Property not maintained
Owners who have given up their management
Older husbands tired and exhausted
Cash only
Property on the way to the meeting (debts)
A leaky roof
One or two burned
Give me as much as possible and as little as possible (more trouble less money in the purchase).
His goal was to take a product to improve it and benefit from the increase in value.
An investor aims to put his money in the hands of those who know how to do it or in an asset that is already yielding (here too, check and know whether the information we received about the property is verified).
So we run to look for or buy a multi-family need to understand what our strategy is.
Do we want or know what to do with the troubles we buy.
Does our team know what to do with the problem, does it have experience if it has a proven track record!
In the following posts I will write extensively about mistakes in choosing property, improving and managing property.
I will be happy to hear if anyone has experienced the acquisition and improvement of a problematic asset.
The original responses to the post can be read at the bottom of the current post page on the site or in the link to a post on Facebook and of course you are invited to join the discussion
Credit to the post: Yoav Pinchas
Big like. Is this true in a single?
I love and warmly adopt your attitude, with great grief: a lot of skill and knowledge is required in the examination of the multitasking and identification of weak points in its as-is situation and of course professional financial analysis.
Danny Trestian Good trouble to you
Breathe
strong.
Felix Baigel a lot of trouble brother
Avihai Machlouf
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