When most people hear the word “investing,” they tend to think about putting money into the stock market. While this is a common form of investing, it’s not the only one. Another way to invest is by purchasing real estate. Multifamily properties offer some of the greatest investment opportunities. Many entrepreneurs, like Steven Taylor, have seen great success. If you’re thinking about investing in real estate, here are a few reasons why you should consider multifamily properties.
Secure Financing More Easily
Purchasing a multifamily property is generally more expensive than purchasing a single-family home. It might seem that getting financing for your purchase would be more difficult. In truth, you’re more likely to get financing for a multifamily property. This has a lot to do with the cash flow that multifamily properties bring in. You also get to take part in some great tax breaks for investing in multifamily real estate.
Earn Income Immediately
As an investor in a multifamily property, you start receiving money right away. A portion of this income is due to the rent your tenants pay. You may also consider adding other features to the property that can help you to generate even more income such as on-site laundry facilities, guaranteed parking spaces, or pet fees.
Management is Easier
If you decide to stay on the property as Landlord, managing the property is much easier than trying to manage multiple single-family properties. Trying to manage multiple properties at once (especially if they’re spread out) can become taxing and may require the need for multiple property managers. With all residences under one roof (or on the same property), it makes management much simpler.
Real estate can be a lucrative investment. If you’re considering getting into the game, why not consider multifamily properties? It’s much easier to secure financing, managing your property is less of a hassle, and you can start earning money right away.