It seems everyone here is good with Cryptos and other tech oriented investing. Are there any professional landlords here?
I would love to hear some opinions on investing in multifamily properties, whether from the US or abroad. Most people invest in single family homes, and leave the multifamilies to the wealthy or large organizations. Right now I've noticed multi family properties are more affordable than ever.
I recently got into the game with a 4 unit for $100k. Mortgage of $600, each unit rented at $550 (total $2200), roughly $1600 a month income, minus expenses. I've seen properties for sale fitting these same profit margins, scaled for their respective areas, for sale all across the US. Currently I'm eyeing a 22 unit for sale for $600k in a similar are to the one I just bought. It's entirely vacant and I would like to learn exactly why the current owners failed before going further, but it's a further example that the deals are out there to be made.
A typical single family home in my area will sell for $120k to $150k and rent for about $800. Yet the multifamily properties can regularly be found for $20k to $40k per unit and rent for $500-$700 each. As I scan multiple listing services across the US this is the same ROI as other areas, albeit scaled for price differences.
If you're considering rental property, I recommend you learn about multifamily properties, the different financing options available, and laws regarding them. While I started with single family residentials, I've learned apartments are the better option.
