Investing in Multi-Family Homes| Buying a Multi-Family Home
What is a multi-family home?
- A multi-family home is a building that contains multiple residential units
- Examples include townhouses and apartment buildings
- A residential multi-family building houses several different tenants or owners.
Buying a Multi-Family Home: Reasons to Purchase a Residential Multi-Family Property
Although purchasing a multi-family home may be costly up-front, there are many reasons as to why someone would buy a residential multi-family property. One reason to buy a multi-family property is for investment opportunities.
Investing in Multi-Family Homes: Reasons and Benefits
-Steady Cash Flow
Investing in multi-family homes allows you to rent out the unoccupied units to generate regular monthly rental income.
-Expand your Investment Portfolio
Invest in multiple units at a time, with one mortgage.
-Easier Property Management
Steady rental income may offset the expense of a property manager. The use of a property manager will make maintaining and managing the property much easier for you.
-Proximity to Tenants
If you choose to live in the residential multi-family property you will be neighbors with your tenants. Tenants as neighbors may make the property management process more manageable, as you are living in the same building.
-Rising Property Value
Doing minor improvements and renovations to the units may increase the overall property value. Also, increasing demand and rising rents may also increase the value of the property.
With over 26 years of mortgage experience, GuardHill specializes in residential multi-family lending. Click here to learn more about multi-family property loans and the residential multi-family mortgage process.