How to find multi-unit properties for sale.
Have you ever wondered how to find the best multi-unit properties without searching on
the internet for hours or driving around in your car wasting gas?
Well, there are some better ways to do it.
Noelle is going to tell you exactly how to do it.
Let's go.
So, let's talk about real estate investing because that's really what we're talking about
when we're talking about finding multi-units.
You really need to start thinking like a real estate investor.
Real estate investing will provide you lots of benefits if you do it properly.
It can help you grow your wealth by providing passive or active income depending if you
keep rental properties or not.
If you decide to fix and flip, you can get large sumps of income just by fixing the property,
adding some value to it.
And then selling it off for profit.
You literally can create and keep properties and create generational wealth where you can
pass those properties down to your children or grandchildren.
And you can also create some tax benefits where you're able to write off things for
the property.
And you can even increase your personal wealth with the property value appreciating year
after year.
So, now let's talk about getting properties and getting multi-units.
When I first started investing in real estate, I did not start with multi-unit properties.
Being really honest with you, I started with single-family homes.
And I'm not saying that you have to start there but that's just where I started.
And I'm going to tell you there's some benefits to single-family residences but there's even
more benefits to multi-units.
When I started investing in real estate and I start getting houses, it was very easy.
I was able to target people that were having property issues.
And I was able to get those properties for pennies on the dollars.
And a mass...
Either my business wholesaling or I would fix and flip those properties and then eventually
I would turn them into rental properties creating some income for myself and using that income
to quit my job.
Now, I've trained my business and I can do even more and make even more profits off my
properties.
When I first started investing, like I said, I would just do single-family homes and I
would do fix and flip, wholesale or I will keep them as rental properties.
On my rental properties, I usually will put long-term tenants in those properties and
keep them.
Put a tenant in there.
They will pay me for...
Stay there for a year and they will pay me each month.
But one of the things that I realize when I started to grow my business is, I had to
pay property managers for every single property depending on what area they were in.
But with multi-units when I started getting 2 units and 10 units and things like that,
I literally started to realize that I was saving money.
My property manager cost were going down, my property taxes for one place...
Instead of paying all these little separate tax and bills for every single home and all
of the insurances for all those little homes, I was able to pay one bill for just that one
unit.
So, you're smart for watching this.
So, let's talk about how you can go right to multi-units and skip the part that I did
with single-family residences.
So, when we are talking about multi-units, there's 2 types of multi-units.
If you just get 2 to 4 unit, that is a multi-unit.
But it is considered residential property.
You can use traditional financing and you can even house hack pretty easily.
Meaning, you can live in one of those units and rent out the other units to your tenants
and they will usually cover the entire mortgage, taxes and insurance.
Done the right way, you literally can make a profit where you live.
And this is an amazing thing to do.
If you don't know how to do it, I'll put a link below and I'll teach all about how to
house hack and make money off of your multi-units just by it being your primary residence.
The other side to multi-units is commercial multi-units.
Meaning small apartment buildings.
Anything over 5 units is considered commercial residential real estate.
So, whether we have a 5-unit apartment or 100-unit building, that is commercial real
estate and the lending guidelines are much different.
I suggest if you have not gotten into real estate and you're searching for your couple
of properties, start with the 2 to 4 units.
This is going to allow you to do what I said earlier in house hack move into one units
and then rent out the other units.
This will make you proficient in 2 things.
One, you can manage the property yourself and learn how to be a landlord and a property
manager or you can hire a property manager and still get that revenue and start to build
that portfolio without having to spend a lot of money.
It can be your primary residence and it can be also a source of income for you.
If you already have a primary residence and you're thinking of getting to multi-family
units, I would suggest starting there.
But if you want to just jump right to apartments, feel free.
You absolutely can do that.
In fact, there's a lot of ways to creatively finance apartment buildings.
And I've made an entire video on how to buy and finance apartment buildings.
Again, I'll put a link below.
But this video is going to focus on those 2 to 4 units because that's the easiest and
fastest way to start building your rental portfolio without spending much money.
If you want to get into apartments, you can go ahead and searching for apartments on a
website called loopnet.
You can go a head and make sure you filter out residential apartment buildings and you
will find some apartment building there.
Additionally, you will find resources to help you with the financing.
The great thing about apartment building is the owners usually will offer some type of
seller financing.
And in many cases, you can just take over the mortgage that's already in place.
You will sometimes have to borrow money for the downpayment.
But in the commercial residential world, that's actually something that is allowed versus
not being allowed in 2 to 4 unit world.
So, with these vet pros and cons both ways.
When we're talking 2 to 4 units, you can search for those properties right wherever you would
find your normal single-family homes.
You can look on websites like realtor.com, Zillow, Craigslist, Redfin.
The normal website that you would look for residential properties, you will also find
2 to 4 units.
You just want to make sure that you filter out and say that you are looking for multi-unit
properties.
And then a whole list will come up.
And you don't even have to drive there.
You can go right on those websites and find them.
When you find properties that you are interested in, go ahead and google them.
Take the address that they give you and give the address.
It will give you a bird's-eye view, a satellite view and a map view of the property.
That way, you can determine if the property is in a good area before you get in your car
and drive all the way over to see that property.
This will save you lot of time and money.
And then you can start finding properties that are in great areas with highly appreciating
values.
You want to focus on how much money the rents are in the area because that's going to be
the amount of income that you can make on that property.
It's a very simple process and you can get started today.
If you're interested in getting apartment buildings or buying multi-units, I have a
company that you can invest in have ownership in hundreds of properties.
As a bonus, I'll tell you, you can go to Nuurez.com.
We are literally acquiring lots of properties.
And you can invest as little as $500 and we're doing quarterly distributions.
And you can get paid for submitting us properties and submitting other investors.
If you want to stay in our any of our properties or visit them, as an investor, you can.
So, check it out at Nuurez if you're interested in multi-units and you only have small amount
to invest.
We can all pool our money together and we can do more.
So, now you know exactly how to find multi-unit properties for sale.
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This is Noelle, to your success.