Happy Holidays Chris.
I have been asked this question many times and feel strongly about the answer. With fewer and fewer individuals able to qualify for the tighter loan requirements to purchase a home with, more and more families and individuals are renting. For those who own the multifamily properties they are finding it easier than ever to keep their units full. However; a word of caution in areas seeing large layoffs and companies closing. These areas are having trouble with renters unable to maintain their rent. The hardest part in this market is being able to find sellers of multifamily properties that are willing to sell where the property will pencil. It is important that you find an experienced agent that can show you all of the data so that you can make an educated and wise decision once you find a property you like. I feel that the multifamily properties will continue to do very well for a good long time, the turn over rate of these properties is much less than residential properties. Investors of these types of properties do not tend to buy with little to no money down, not to mention lenders require much more anyway!
Dec 23, 2008