How to Search for a 2-4 Unit Income Property

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Finding a viable income property to purchase can be challenging. This checklist shows you how to search for a 2-4 unit income property. The image shown here is a preview of the first page of the document.

File format: PDF (.pdf)

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Description

Finding a viable income property to purchase can be challenging. This checklist shows you how to search for a 2-4 unit income property.

This five-page document lists the 13 key steps to thoroughly evaluating 2-4 unit income properties prior to purchase. Here are the steps to give you an overview and when you download the PDF you will see details and explanations for each step.

The Steps to Searching for a 2-4 Unit Income Property

  1. Run the numbers
  2. Create your search
  3. Review street and satellite view
  4. Review features and potential improvements
  5. Review the number of Units
  6. Review the Unit Mix
  7. Review the existing Occupancy
  8. Review the Parking
  9. Owner-occupied vs Investment
  10. Review the local Ordinances and Jurisdiction
  11. Review the property in person
  12. Start creating your team
  13. Prepare your questions for the Seller once you’re in Escrow

Utilize our Free Calculators

The first step in evaluating the investment potential of an income property is running the numbers. GRM quickly determines viability and CAP rate provides a secondary comparison relative to alternative investments.

GRM Calculator

CAP Rate Calculator