Which investment option is best for your hard earned money? Single or multifamily properties? The multifamily real estate investment comes with many different key benefits and it is most recommended to have a clear knowledge of the offered benefits so you can make informed investment decisions. Multifamily real estate doesn’t just play a key role in providing necessary, affordable housing for people across the world, it is also seen as one of the best housing solutions for people of different stages all through their lives.
I will discuss below the different benefits of investing in multifamily real estate properties.
- Ease of management: What could be worse than owning 4 different single-family homes spread out across the city and you have to manage all 4 homes? Now think of having all 4 residential homes under one roof. You may need more than one manager to take care of all 4 units across the city which brings additional cost while just one manager is needed for the one building with all property units.
- Expensive but the same type of financing: We can finance up to 4-unit homes the same way as we finance single family homes!
- Takes less time to grow a portfolio: The multifamily real estate property investment is known to have more advantages for investors with the aim of building a relatively large portfolio of rental units. Owning a 4 unit multifamily building is considered a lot easier and takes less time than trying to purchase 4 different single-family homes.
- Always on demand: In the U.S. housing market, multifamily properties plays vital role in providing essential housing solutions for those renting out of necessity rather than choice. More to that, a majority of immigrants moving into both the U.S and Canada often fall short of funding to secure a homeownership and for this, they have to rent for over 10 years on average before being able to make a home purchase.
The Sherry Riano Team of real estate experts would love to help you, so please reach out with any questions!