Diversifying your portfolio builds security against economic downturns in any one market sector. In addition, because of the nature of multi-family properties, having shared construction, costs per unit are lower overall, as are maintenance costs in general which makes this an attractive way to diversify your portfolio. Finally, rental investments such as multi-family help build a hedge against inflation; history shows that rental rates keep pace as costs of living rise.
At the same time, a single building provides you with multiple streams of cash flow. However, with increased income comes increased responsibilities, which can eat away at your time. As a real estate investor, your job is to pursue investments to build wealth rather than manage your holdings, making hiring a property management team more economically feasible and retirement with an entirely passive income stream possible. And as your tenants are the backbone of your investment business, professional property managers understand the importance of taking every step of the application process seriously. Your future relies on attaining the best tenants.
Once you have determined you are ready to invest in the multi-family property sector and lined up your financing, it is time to build your real estate investment portfolio. However, competition can be fierce, and it can be challenging to find good deals among the limited number of available multi-family properties. So, where does an investor get started when seeking a multi-family property? Read on as we explore how to find multi-family properties for sale in Philadelphia.
Networking
As a real estate investor, the time spent networking among other investors and the variety of professionals across the real estate industry can lead to large payoffs in your business. Networking allows you to build a team, and through your exposure to locals in the industry, you may be able to find multi-family properties for sale in Philadelphia. Working with a professional investor like those from Philly Off-Market Deals brings onboard an entire team of the most highly regarded pros in the industry to become your instant team. You will also benefit significantly from the years of connections that bring great deals for our investors at Philly Off-Market Deals; we have a team ready to jump into action for all of your needs.
Fingertips and FootWork
While many websites offer investors a starting point to find multi-family properties for sale in Philadelphia through online searches, old-fashioned footwork will also serve. There are tell-tale signs a property owner may be open to selling, and by hitting the road and driving through the areas you are more interested in, you may find your next multi-family investment. When you work with a highly experienced professional investor like those at Philly Off-Market Deals, we can help you zero in on your target investment, helping you every step of the way.
Auctions
While most real estate on the auction block is typically single-family, it is not unheard of for investors to find multi-family properties for sale in Philadelphia at an auction. However, before you step into the world of auctions, you must perform whatever due diligence is permitted. You should also know the cash on hand that the auctioneer will require for a winning bid. Lastly, ensure that you have a set limit that is not flexible, despite how emotional you may get during bidding. Having an investor experienced in the workings of auction houses at your side, like a professional investor at Philly Off-Market Deals, can help investors avoid the pitfalls of auctions.
Expired Listings and County Assessor Records
You can search for multi-family properties for sale in Philadelphia among expired listings or check the county records to find owners who may be motivated to sell. If you don’t ask, you’ll never know if you may have found your next investment property. Negotiations can be touchy, so working with seasoned investors like those at Philly Off-Market Deals who have the experience to assess sellers and approach them on your behalf makes investing in Philadelphia real estate easy.
Philly Off-Market Deals
Suppose you are ready to begin your search. Why not contact the professional investors at Philly Off-Market Deals and let us help you find the perfect multi-family property in Philadelphia to fit your budget and bring the highest return for your investment dollar. At Philly Off-Market Deals, when our investors win, we win—understanding the systems that allow investors like you to create a nest egg that will provide you with the freedom to live life on your terms. Working with Philly Off-Market Deals makes investing easy. Don’t forget to ask about our current inventory of the best multi-family properties for sale in Philadelphia. Our full-service property management team at Philly Off-Market Deals can also help you, no matter the number of holdings in your portfolio. Our team at Philly Off-Market Deals will take on as much, or as little, property management duties as you like to help you manage your investments your way. Call Philly Off-Market Deals at (215) 422-3288.