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Pros and Cons of Buying Multi-Family Properties in Athens

Many people who invest in rental properties choose to buy multi-family properties such as apartment buildings and duplexes. And a lot of them wind up making a lot of money. Still, buying multi-family properties isn’t for everyone, and it may not be the best way to get started in real estate investing. Is it right for you? To make the right decision, carefully consider these pros and cons of buying multi-family properties in Athens.

Pros of Buying Multi-Family Properties in Athens

Let’s begin by examining the pros of buying multi-family properties:


Keeping a healthy cash flow is a perennial challenge for those investing in rental properties. But with multi-family properties, you’ll see larger cash flow. You have more tenants paying rent, so you have more money left over after making the mortgage payment and taking care of other expenses like insurance and maintenance.


Buying multi-family properties in Athens also streamlines the mortgage end of things. You have to deal with only one mortgage for multiple tenants instead of multiple mortgages for single-family dwellings to accommodate an equivalent number of tenants. So you save time, a ton of paperwork, and possibly money.


Similarly, dealing with insurance matters is much easier for the same reason. You will have only one insurance policy for a multi-family property instead of several policies for single-family properties.


Multi-family properties also present less risk, especially with respect to vacancies. Because of the multiple units (at least two), the risk of total vacancy is extremely low. If a tenant moves out, the other remaining tenants will keep your cash flow going. Further, most of your tenants will pay rent on time, and, again, that will make up for the one or two tenants who tend to pay late.


The competition in the single-family rental market is pretty keen, but the competition for buying and renting multi-family properties is less. So multi-family properties present an easier way to get into real estate investing, and you’ll have an easier time acquiring tenants.


the value of multi-family properties is based primarily on their income potential. They aren’t subject to fads and tastes when it comes to price and value. So most of the time, they are capable of providing solid growth in long-term value.

Cons of Buying Multi-Family Properties in Athens

Now, let’s examine a few of the cons:


Obviously, buying multi-family properties in Athens means that you’ll have a bigger initial cash outlay and will require a much bigger mortgage. And this means that multi-family properties may be cost-prohibitive for people just getting into the business.


Multi-family properties will take up a lot more your time. More tenants mean more maintenance and more repairs to make, which all takes more of your landlord time.


While multi-family properties have less competition, that competition is typically more experienced – that is, investors who are pretty savvy because they’ve been in the game for a long time. And that means you’ll be up against more experienced competition when it comes to buying and getting tenants.


Owing to the lower demand, multi-family properties are fewer and with less availability than single-family properties. So you will have fewer options and will have to put in a lot more work to find potential properties.


Landlords are already saddled with a host of regulations and that regulatory burden only increases with multi-family properties. So if you plan to get into buying multi-family properties in Athens, you need to do your homework on these laws and stricter regulations.

Putting It All Together

Multi-family homes can be highly profitable, as well as easier to manage and with less risk. But is buying multi-family properties in Athens right for you and your real estate investing business? To make that determination you need to do your research, think about your business model, and look at long-term goals. It’s also a good idea to consult your local real estate agent who has a good handle on the rental market. Discover how our agents can assist you in making the right decision and buying multi-family properties.

Learn more about buying multi-family properties in Athens! Contact us today!

Georgui Kassaev

Georgui Kassaev was invited to this country in 1996 during the Atlanta Olympic games. The first place he came to call his home after leaving Russia and performing all over Mexico, was Athens. He became a professional mixed martial arts fighter, then coach, and eventually obtained two black belts in taekwondo and Brazilian jiu-jitsu. He formed a specialty carpentry and construction business which sparked his passion for real estate. He then rediscovered his first passion performing. After all, he has performed in the circus since he was eleven years old in front of thousands of people and then again when he was an adult as a professional fighter. In 2018 he landed his first 3 television roles. While acting, he continued developing his real estate skills, becoming a value-add investor in the Classic City and then getting his real estate license. He has now become a listing specialist in the Greater Athens Area, working with homeowners to protect their interests and get them the right price for their property! However, he never abandoned his construction roots and works with investor clients to help them buy properties based on their numbers with no aversion to making multiple offers. Georgui is fluent in three languages Russian, Spanish, and English. He is proficient in video production and social media marketing.

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