Selling a multi family property takes some finesse and long term care, especially if you want top dollar when you go to sell. We would like to share some advice from our experience working with these types of sales that will put you ahead of the curb - coming from both a landlord and Realtor’s perspective.
We have seen many properties in all types of condition. There are simple, cheap and money-free ways to get top dollar for your multi family, but be warned, this process is an ongoing one from when you pick the property to purchase all the way to sitting at the closing table to sell the property years later. What happens in between those years is crucial to allow you to make a boatload of money and prevent you from losing your shirt.
Blast REI has become the name to know when it comes to Multi Family Sales in Fairfield County, CT. We have positioned ourselves in this niche because we recognize a tipping point that is coming to the market – but for now, prices are rising and inventory remains at all-time lows. As we interact with more and more homeowners, knowing the numbers has become more helpful in our discussions, so we wanted to pass that on to you.
We purchased this 4-unit property in Albany in August - the cash flow was what we were seeking, where we could make income without worrying about the studio apartment. We knew this unit was not quite at the same condition as the others, which were in far better shape. We also knew it would be vacant when the property was turned over to us and that we could have our way with it. This generates a nice opportunity that other investors might overlook.
This video shows the mid-process renovation of a studio apartment in Albany, NY. Joe and Chris are working hard to increase the rents by providing a nicely updated unit to a future tenant. A little hard work goes a long way in this business.