Strangely enough we're assisting two different pairs of brothers with their investment plans right now.
Pair #1 already owns 2 duplexes and is in the process of expanding its portfolio. Last week these two brothers put in an offer on an 8-unit, and we're waiting to see how this one turns out.
Pair #2 is new to the game. These two brothers are looking to buy their first duplex using the money they have saved between the two of them.
Both sets of brothers are at different points in their investment plans, but they are similar in many ways. They are all planners and goal-setters, and they all believe in the "get rich slow" formula that multifamily real estate offers. All of these brothers are seeking a property that cash flows while they pay down their mortgage and their property appreciates in value over time. They are aware of the tax benefits that come with multifamily real estate, and they plan to leverage their equity in future years to buy additional properties.
Both sets of brothers are persistent and patient. They have clear standards, and they are willing to evaluate 30 properties in order to find the one property that meets their criteria.
As we've stated before, it's a buyer's market in multifamily real estate. The irony is not many people are buying. Here's our latest multifamily real estate report. You'll find more useful information at DaneCountyMarket.com, including how we help you buy and how we help you sell multifamily real estate.
Have a good day,
Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com
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