It's a great time to buy property. Interest rates are low, the economy is strong, and in our particular corner of the world, there's never been higher demand for rentals. If you're considering expanding into the world of multifamily rental properties, here are a few reasons to pull the trigger:
Small Loans are Easy to Obtain The smaller the loan, the smaller the risk, which is why loans for small, multifamily properties are often easy to obtain. Scott Safadi of Cal Bay Property Management advises prospective investors to weigh the underwriting standards for small buildings versus larger ones. You'll be pleasantly surprised to find the smaller the property, the less stringent the standards. Renters Prefer Smaller Buildings While sprawling apartment communities have their perks, most renters prefer small, intimate buildings. More people often require more rules, and small multifamily communities feel more homey. Tenants want to live where everyone knows their name! Property Management Companies Put Your Investment on Autopilot Success in real estate investment comes not from savvy purchases but from the day-to-day management of your community. Qualifying tenants for leasing, placing them in an apartment, and managing their daily questions and concerns is a full-time job, though. With a company like Cal Bay Property Management at the helm, you'll never need to worry about the minutia of managing tenant needs. - Scott Safadi, Cal Bay Property Management
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AuthorScott Safadi leverages extensive experience in the real estate industry to serve as the CEO of Cal Bay Property Management (CBPM), which he founded in Palo Alto, California. Archives
January 2020
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