With all of the talk about foreclosures, (sorry about using the "F" word!) I can't help but wonder one thing... Where are all of the people going to live?
I have owned multi family homes in different parts of CT. I sold my last property in 2006, as it was getting really tough to find good tenants and the property valuations were still pretty high. I'm in the process of looking again for my own investments. I think the multi-family market is back to making some business sense again.
With prices down, interest rates down, and people back to the rental market, I would like to point out that numbers are looking better. There are a lot of things I look at when deciding on a property. I'll save some of those for a future blog. I'll say this much for now, buying a multi-family property as an investment should be approached with cut-and-dry financial analysis. There should be no "falling in love" with the property. When emotion takes over, people tend to overlook the important stuff.
Love is blind. Investing in real estate requires 20-20 vision.
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