Today I want to quickly cover the three main factors that affect single family homes’ value.
- Location and neighborhood comps.
- Square footage, and especially the usable space.
- Age and condition.
Now do you see why someone would choose to buy the worst house in the best or upcoming neighborhood?
Next, I’m going to talk about how multifamily is being valued and why it could be a better option for you to gain passive income.
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Patrick Grimes is a design engineer and CEO and Founder of Invest on Main Street, LLC. His real estate holdings include general partner ownership of a multifamily and single-family real estate portfolio valued over $146M, including 1,950+ units across the southeastern United States and Texas.
He has been active in real estate investment since 2007, including purchasing land and distressed assets, renovating them, and stabilizing them for long-term cash flow. To scale his real estate portfolio, Patrick moved from single-family to multifamily investing and founded Invest on Main Street, a private equity firm specializing in multifamily value-add projects in emerging markets.