New residents are flocking to the Las Vegas Valley, thanks to our strong local economy and lower cost of living. If you want to buy multi-family investment property in the Valley right now, you’ll be making a smart investment. However, finding the right one for your portfolio and buying it before someone else does can be a challenge if you decide to work alone. An expert real estate broker can guide you through the process of purchasing a multi-family property.
Why Purchase a Multi-Family Property?
A multi-family property can provide a steady stream of revenue with a minimal amount of involvement on the owner’s part. Those investors looking for a reliable source of passive income often turn to multi-family properties for this reason. There’s a wide range of multi-family properties to choose from, including single family homes, duplexes, triplexes, and quadruplexes. There are also condos and apartment buildings for investors with larger budgets. Affordable housing presents another option, along with senior living facilities.
Discover the Right Multi-Family Investment Property for You
If you’re wondering how to buy multi-family investment property, you should first evaluate factors that will influence the value of the property and the cash flow you can extract from it. Research a property’s location, nearby amenities, and average incomes in the surrounding area to determine the rents you can charge and the tenants you can expect to attract. Check out how much similar properties are selling for to get an idea of how much the one you’re looking at should cost.
Obtaining a Loan
When trying to obtain financing to purchase a multi-family property, you’ll face a similar, if more stringent, process as you would when applying for any other type of loan. Lenders will want to know your credit worthiness and liquidity along with the value, location, and condition of the property you wish to purchase. Borrowers are also typically required to pay 25% of the value of a multi-family property as the down payment and must be well-capitalized, with enough assets to pay for at least six months of rent. You may also be required to provide information about your own credit history to obtain a loan.
Keeping You On the Right Track
Crown Point Commercial specializes in helping our clients find and buy multi-family investment property across the Las Vegas Valley. We can provide you with the following assistance during your search:
- Identify areas of the Valley likely to witness an increase in demand for the type of property you wish to buy and direct your search there
- Focus your search on the listings that offer the highest ROI based on your search criteria
- Build a customized investment strategy based on your long-term goals
- Provide you with the latest and most up-to-date market information
- Conduct a Current Market Analysis (CMA) to project your expected cash flow from a property before purchasing it
Let Us Help You Buy Multi-Family Investment Properties
When you need expert assistance during your search for multi-family investment properties, Crown Point Commercial can provide you with the guidance needed to make a lucrative investment. We invest ourselves into the success of every one of our clients, providing the careful, attentive, and knowledgeable service they need to accomplish their goals.
Get in touch with an expert
Let us give you a market assessment and recommendations to maximize your real estate investment.
Give us a call today at 702-472-9958 or fill out the form to speak with one of your experts.