5 Things You Must Know About Buying Large Multi-Family Properties in Fairfield County, New Haven County and Westchester

1. 5 Things​ you must know About Buying Large Multi-Family Properties In  Fairfield County, New Haven County, and Westchester County  Have you ever considered all of the benefits that owning a large  multi-family property could offer you? When you become the owner of the  right property, the benefits can be beyond your wildest dreams. Many  people would rather have 4, 10, 20, or even 50 people paying them to rent  each month than only one person. A vacancy when you have multiple units  won’t cause as large of an impact as the vacancy of your single-family  property might. Below, we offer 5 things you should know about buying  large​ multi-family properties​ in Fairfield County, New Haven County, and  Westchester County, and how doing so can greatly benefit you!  If They Can Do It, You Can Too  There are lots of ways to get into commercial real estate in Fairfield  County, New Haven County, and ​Westchester County​. Whether you opt to  be involved in the purchase of a commercial office building, a retail center,  or a large apartment building, you don’t have to do it alone. There are many  crowdfunding platforms and ways to partner with others on deals so that  even with a relatively small investment, you will be able to get in on much  larger projects that you may not have been able to invest in on your own.  Finding The Right Partners  It is critical that you choose your partners wisely when making an  investment together. To find like-minded people, you can use online  forums, local networks groups, or simply study who is buying and where.  Try to determine who you would be compatible with from an​ investment  standpoint. You need to like the person too. If you don’t, you could find the  deal heading south fast. When looking for a great partner, you will need to  be one yourself. Make sure that when you work with others on a large  multi-family property deal, that you are holding up your end of the bargain  and then some. If everyone on your team is giving 110%, you can almost  guarantee that your investment will be a successful one. 

2.   Using Other People’s Money  In some partnership situations, you can set it up so that someone else puts  up the capital, while you do the majority of the work. When making this, or  any other agreement with a partner, make sure to spell it all out in writing  so you leave little room for disagreement and will have the ability to see in  writing what the answer should be to some of your conflicts. ​By working  with a partner​ in this capacity, you will be able to invest in wildly profitable  properties without having to make a huge financial agreement. As your  portfolio grows you will be able to make larger and larger purchases on  your own, without the help of a partner.    Know Your Numbers  There are all kinds of equations investors use when determining the  profitability of the building. If you want to be certain the property in  question will have the capability to perform at the level you need it to, you’ll  need to make sure the numbers are there.  You should be able to have a good idea of your potential gains before  deciding if a property is right for you. You may have to spend a good  amount upfront, but with a high return, that sort of investment may be  worth it.  One of the most critical numbers you will need to know is the vacancy rate.  It makes no sense to buy a large building if nobody wants to live in it. Some  buildings attract long-term tenants, while others house a more transient  population. You’ll want to make sure the property attracts long term guests  who want to be there. Contact Three Brothers Real Estate to help you  determine if a large multi-family property investment is worth it for you in  Fairfield County​, New Haven County, and Westchester County.     

3.   Financing ​May​ Be Easier  When buying a large multi-family property in Fairfield County, ​New Haven  County​, and Westchester County, the financing is often revenue-based.  That means that the bank not only takes into consideration your financial  situation but even more so, they are looking at the revenue potential of the  property. If you have found an excellent deal and the numbers are all there,  obtaining the financing you need may be easier than you think!  Buying a large multi-family property is the logical next step for many local  investors. While the potential for profit is certainly there, you will need to  make sure you have done your research as well. A lot of information is  needed about a property before buying if you want to make a smart  investment. Be sure to take the time to run the numbers and do the studies  you need to in order to make the right decision about purchasing.          Three Brothers Real Estate​ is a local family-operated real estate investment  company. Our aim is to simplify your real estate buying and investing  experience to help you achieve financial freedom.  We specialize in all aspects of residential and commercial real estate  investing. Regardless of your investing experience, we can find an  opportunity that works for you.