This is the first post in a series which will address the subject of investment into multi-family units in Dayton and its surrounding areas. I’ve decided to write on this issue due to the fact, as someone who is both personally a real estate investor and an agent who deals with many out of state investors, I feel I am able to provide useful information on the topic. While investing in apartment buildings, duplexes, or other multi-family units can be a great opportunity, there are also many things which one should consider before doing so. The goal of my coming articles is to provide information which will help one to better understand their options. If you are considering purchasing an investment property then contact me today to speak with a realtor.
I will be addressing a number of topics over my coming articles. Some of the topics which I will discuss include:
- How to value and decide on a purchase price for a multi family property
- The pros and cons of investing in a C or D class property vs. an A or B Class property
- The current state of Dayton’s multi-family market
- Selecting a real estate agent to assist you as you move forward
There are several reasons why I have chosen to address these topics. First, when selecting an apartment building or other property, it is important to reasonably determine what the units can rent for, to obtain documentation from the current owner (such as copies of any leases, profit and loss statements, etc.), and whether the building’s current tenants pose a potential problem. These, and other issues, are key to deciding whether or not to move forward with a purchase. Second, differences in cities and neighborhoods will mean a difference in your potential tenant’s income bracket. Lower income housing properties may produce a higher cap rate, and retain tenants for longer periods of time, but an investor has to weigh the pros versus the cons. Third, understanding the current state of the market can help an investor to know how aggressive to be in their offers, and the types of properties they can expect. Finally, many agents are not familiar with the additional contingencies that a multi family purchase contract may require. Selecting an agent who understands your needs can help things to go more smoothly.
If you are considering purchasing a Dayton multi-family unit then contact me today to speak with a real estate agent. I strive to provide the highest level of service and make my clients a priority. I look forward to speaking with you. I also service the areas of Beavercreek, Centerville, Cincinnati, Clayton, Englewood, Oakwood, Fairborn, Harrison Township, Huber Heights, Kettering, Miami Township, Miamisburg, Riverside, Springboro, Trotwood, Vandalia, Washington Township, West Carrollton, and Xenia.
Note: Nothing in this article, or on this website should be construed as investment or financial advice. The opinions shared on this website are the personal, and not professional, opinion of the author and are not associated with Keller Williams Advisors. Any investment decisions should be made after consulting with a certified financial/investment professional.