Today I want to discuss the last of three residential property options that you as an investor should consider. This would be multi-family property, remember that using real estate comps to check pricing regarding these is always a wise choice.
This particular category of real estate is where a number of individual housing units are contained within a single building (in many instances apartment complexes, duplexes, triplexes or fourplexes). The primary benefit to making use of multifamily housing as non commercial investment property is this: whenever a condominium property or a private home is lived in it is completely inhabited, and when it’s not inhabited it’s totally empty.
That just isn’t the case with multifamily housing: an individual building could be totally inhabited, entirely uninhabited as well as everything in between. The fact that there are numerous housing units within the building creates an excellent source of diversified income which in turn removes the problem associated with relying solely on a single specific source. Taking advantage of these multiple streams of income to fund other property transactions or business ventures is a wonderful avenue for your business.
Your InvestorCompsOnline account gives you the information you need to navigate the real estate field. These three types of residential properties, private owned, which is a privately owned single residence on a single parcel of land. A condominium,a type of real estate in which a portion of the building (the residence itself) is actually independently bought and the other parts (outside locations, inner roadways) are considered common property. And multi-family residences, which are singles units that are joined together are all potentially lucrative for your investment business. Which type you choose to pursue is up to you and I wish you the best in your endeavors!