Let’s remember that multifamily homes are separate housing units within one or several buildings. That means different tenants, different areas to take care of, something that might seem and sound tiring and difficult to keep track of. So, why are they so attractive nowadays?
However, if the property is managed appropriately, operational costs (such as maintenance and management) can be shared reducing the expenses.
The demand of families for having a place to live in is always present, making residential investments a need at all times. Once you have multifamily properties, you have a number of tenants paying rent on a monthly basis, meaning there’s always cash flow. Let’s say one of them start having problems with paying rent, it won’t represent such a big deal, considering it’s just a part (probably a small one) of your income.
There’s little competition when it comes to getting one of these assets because investors are more interested in less expensive homes, such as single-family houses. On the other hand, there are financial programs that make a bit easier getting loans for multifamily properties. Why not take a look at what they offer?