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Ten Unit Foreclosed Apartment Building in North Miami, Fl for Sale.

By
Real Estate Agent with Greystone Real Estate Group

Ten Unit Foreclosed Apartment Building in North Miami, Fl for Sale.

 

When you sit down and examine the advantage of owning multifamily properties, you will be amazed at the multitude of benefits. While other types of commercial properties offer some attractive incentives, owning and investing in multifamily properties brings many great things to the table. Let’s take a look at just a few:

 

1. You can buy with NONE of your own cash. This one is my favorite! You will find that apartments are easier to get financing on and that the MORE you borrow the LESS they look at the borrower’s credit. In some instances, they don’t even look at the borrower’s credit but at the borrower’s assets instead.

 

2. Apartments are made to cash flow. This means that instead of there being one house with one roof generating only one source of income, you have one roof with a multitude of little houses under its’ roof creating multiple income streams. You have economy to scale. Apartments are designed to be income-producing properties.

 

 

3. Better leverage of your time and effort. Think about it. What would you rather do? Look for ten houses or a ten-unit apartment building? On the flip side, wouldn’t you rather sell a ten-unit apartment than sell ten houses? Of course! You have more leverage of your time.

 

4. The value of income properties is based on income. This is a function of Net Operating Income (NOI) and you can create value by raising the rents and cutting the expenses. This is a very predictable process. You can determine how much the property is worth based on how much you raise the rents.

 

 

5. Non-recourse financing. The more money you borrow, the easier it is to borrow. When you get to loans of two million dollars and above, it becomes non-recourse financing which means the asset is the sole security for the loan. No one is personally guaranteeing the entire loan balance, only a percentage.

 

 

As you can see, the advantages to owning multifamily properties are solid and sound. With so many venues to consider when trying to find something to generate passive income for yourself, you just can’t overlook the tremendous value created by multifamily properties.

 

Visit www.sokolowrealestate.com today to view Multi Family properties in South Florida.