Do you own single family rental properties in South Florida and have been considering transitioning to investing in multi-family rental properties? If so, you’re making a smart choice!
Multifamily investments are in many cases better than single family investments because of one reason: more doors = more revenue but the Big question is how do you transition from investing in single family yo multifamily properties?
In this article we will provide you with tips on making this transition.
Create The Infrastructure For Transitioning From Single Family To Multifamily
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As we mentioned above, more doors = more money but you also have the responsibility of managing those units to ensure that your tenants stay happy and you’re able to keep them occupied.
Before investing in multifamily it’s best to determine if you want to manage the property yourself or hire a property manager to professionally manage that property for you because a property manager will save you time.
Consult With Your Investors
These days it’s not uncommon for there to be multiple investors who invest on a property together. If this is the case with you, it’s best to discuss this transition with your investors first because some may not like the idea of investing in multifamily and this could delay your access to capital so it’s best to have this talk with your investors before moving forward.
Search For Multifamily Properties In South Florida
Are you ready to search for multifamily rental properties in South Florida? Contact the Bryan Orange Group by calling us at (786) 606-7227 or click here to connect with us online.