I have experience in single family home building. I’m interested in investing in rehabbing small multi family properties.Their is a 4 plex here in Louisiana for $30,000 but it is not in a good area. I’m looking for some input on what a experience multi family investor would do if he had a property in a area that’s not to good.
Remember, you can always fix a property. But you can’t always fix an area. I would much rather buy a junk property in a good area, than buy a good property in a bad area. I would stay away from bad areas, no matter how good the deal is. You will have tenant problems, and you could end up losing a lot of money.
Multifamily
Thanks,
The only problem is the multi family properties in the good areas are much more expensive.
Are the multis in the good area priced below the cost of building from scratch? If not, building some in good areas may be an option for you.
multi family
Probably around the same price. For as building multi family the banks are a little tight on new construction.