Minnesota Real Estate Investors Association, Inc.

Minnesota Real Estate Investors Association, Inc.

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All About Multi-Unit Properties | By: Loreal Loftus

A two-to-four-unit property is a multi-family home, which is a single building that houses multiple families. Examples of multi-family homes include duplexes, apartment buildings, and condominiums. 

Multi-family homes can be a good investment for first-time homebuyers because they can be affordable, generate income, and offer tax breaks. However, they can also require more time, money, and overhead than single-family homes. Here are some things to consider when investing in a multi-family home: 

  • Financing
    The rules for financing a multi-family home depend on whether the owner plans to live in one of the units. If the owner doesn't plan to live in the property, they may be able to use projected rental income to qualify for a mortgage. 
  • Income
    Multi-family homes can generate multiple streams of income because they have multiple units to rent out. 
  • Maintenance
    Multi-family homes require more maintenance than single-family homes, and the owner may need to hire a property manager. 
  • Risk
    Multi-family homes can reduce the general risks of real estate investment because they offer multiple units to rent out.

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