Investors can buy these homes and start renting them out to families. These homes don't even require renovations to convert them into multi family homes. There are many foreclosed multi families that are great bargains. Of course, it is also possible to buy a multi family for sale as a foreclosure. Since home foreclosures for sale are sold below their actual value, buyers can save money up front and channel that money into renovations that would convert the property into a multi family home. Many foreclosures require some renovations in any case and adding some additional renovations to convert a home into a multi family residence is usually quite cost-effective. Many investors and home buyers either look for foreclosure multi family properties or seek out larger bank foreclosures that could easily be converted into a multi family property. Larger homes, especially, often lend themselves very well to this type of project. In fact, multi family residences are so popular that some buyers are purchasing single family homes and restructuring them as multi family units. Increasingly, some families choose to look for multi family properties in order to house an elderly loved one or in order to rent one unit and repay the home's mortgage. Investors are often interested in multi family homes for sale because these homes can be rented out to a few families, providing a good profit. Most of these homes have multiple units so that each family has their own separate living space. Residential multi family homes are built and designed to house more than one family.
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