Flipping real estate has certainly been quite the topic over just the past few years. Thanks in large part to the wave of foreclosures that hit the market all across the country as well as the proliferation of cable T.V. shows highlighting real-world flippers who buy low, fix and sell high. There are multiplegreater opportunities in multifamily methods to be a successful flipper and it seems there is no end to the pipeline.

However, seasoned real estate investors, those who were in the business long before the popularity of flipping took hold, know that flipping is more than just finding distressed real estate then see if the math works. And it’s also important to look beyond the single family home or duplex.

Look back just a few years right before the bust took place. Home ownership reached record levels and the demand for homes became white hot. Those in new constructions like to wait for trends to develop before embarking on any major project. Yet once convinced, they begin to turn dirt in a hurry, starting and completing a project well before the demand for housing cools down. One of those major developments was reserved for multi-family construction in the form of condos, townhomes and apartment buildings.

Yet these builders were just as exposed to the housing crash as those who built single family homes and other 1-4 units. As demand came to a screeching halt and no one could obtain a mortgage loan, or so it seemed, builders everywhere found they held unfinished condos and apartment buildings, couldn’t sell them and the bank, reluctantly, took back the projects without selling a single unit. Such properties are sometimes harder to find and on the higher end of the price scale but so are the profits. Unfinished multi-family properties provide ideal returns for those lucky enough to find them. Just like any other investment, if you’re approached with a potential investment, do your own due diligence just as you always would.