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
- Run the numbers
- Create your search
- Review street and satellite view
- Review features and potential improvements
- Review the number of Units
- Review the Unit Mix
- Review the existing Occupancy
- Review the Parking
- Owner-occupied vs Investment
- Review the local Ordinances and Jurisdiction
- Review the property in person
- Start creating your team
- 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.