You will find generally three different kinds of residential real estate, each one having its individual pros and cons of investing. Searching real estate comps is an avenue to know if these properties are listed fairly. The three types of real estate properties you will find are private owned, condominiums or condos, and multi-family properties.
Privately owned houses are a single residence on an independently held parcel of land. The additional value associated with a privately owned home is almost always substantial because of the space and level of privacy. However, due to the higher cost the chances are greater for it to remain unoccupied and available on the market for extended periods than preferred. Also, there is no system to make certain it’s not going to depreciate as a result of neglectfulness by its residents except for whatever focused observation and awareness the property manager provides him or herself, which is often challenging if he or she has bought several properties.
Tomorrow I want to discuss condominiums and what are the positives and negatives surrounding these types of properties.
Remember taking your time to research what is best for you to buy is always the wise move. And as always the goal is to profit and profit well!