NJRealEstate
New Contributor
Hello all,
I am looking to find potnetial multi unit buildings to buy/hold and rent for cashflow. I have done a few residential fix and flips, with the ultimate goal of owning enough buildings to satisfy my needs from cashflow from rents. After my next flip is completed I hope to have enough for a downpayment on a building costing up to around $1 million.
I am currently looking for properties on loopnet, trying to look through newspaper classifieds, but am finding the search very difficult to sort out qualified properties, and at my price range there is not an abundance of options. Is there any way I may be more likely to find deals with motivated seller who may carry back some financeing, or buildings that have acceptable cap rates to purchase for my purposes. Almost everything I am seeing has a cap rate of less than 10% or is about to fall down.
Should I be trying to work with an agent? Are there other avenues I am missing?
Any suggestions or advice would be appreciated
I am looking to find potnetial multi unit buildings to buy/hold and rent for cashflow. I have done a few residential fix and flips, with the ultimate goal of owning enough buildings to satisfy my needs from cashflow from rents. After my next flip is completed I hope to have enough for a downpayment on a building costing up to around $1 million.
I am currently looking for properties on loopnet, trying to look through newspaper classifieds, but am finding the search very difficult to sort out qualified properties, and at my price range there is not an abundance of options. Is there any way I may be more likely to find deals with motivated seller who may carry back some financeing, or buildings that have acceptable cap rates to purchase for my purposes. Almost everything I am seeing has a cap rate of less than 10% or is about to fall down.
Should I be trying to work with an agent? Are there other avenues I am missing?
Any suggestions or advice would be appreciated
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