Why You Should be Investing In Multifamily Real Estate

In the past couple of years, the real estate industry has witnessed an immense popularity boost as more people seek a career in this particular field.

Real estate is an ideal investment for investors who are hoping to take a more active role in growing their capital instead of just passively putting their money away into a fund managed by someone else. Moreover, one of the best things about investing in real estate is that there are a number of strategies you can use and generate enough profit from it.

There are many professional investors who have made more than a million dollars simply by flipping properties or even purchasing properties that are in dire condition for cents on the dollar and then renovating them to sell them to potential owners.

Many investors prefer investing in rental property as it gives them an additional source of income monthly while simultaneously adding value to their portfolios.

Multi-family Investments

There are two types of properties when it comes to residential real estate where you can invest in - one being single-family and the other being multi-family.

Single-family properties are the residential buildings that have only one unit available for rent, whereas, in multi-family properties, you will find more than one space that is available for rent. As such, there are more benefits to investing in bigger residential places - and here are some of the reasons why we believe so.

Easy to Finance

Despite there being higher costs when it comes to purchasing an apartment building rather than a small house, it is actually worth the investment in the long run.

It is much easier to get approval from the bank for a multi-family property because these types of properties tend to generate a lot of cash flow each month. Plus, this will remain the case even if your property has many vacancies or a few tenants that are behind their rent payments.

Getting a Property Manager Improves Progress

There are many investors who enjoy taking part in these investments, but when it comes to the management part, they prefer hiring a property management company that handles their daily rental operations.

Their duties include screening tenants, handling evictions, and collecting the rent payments, among many other things. They are paid a certain percentage of the monthly income that is generated from the rental properties.

If you are curious to know more about how rental property management works, professionals like Rich George are just the person who can answer all your queries. Rich George takes on several careers, a few of which include being a renowned entrepreneur, management consultant, executive coach, and real estate investor.

He is also the owner of the prestigious Coach Services Inc., the parent company of many affiliated and subsidiary business units such as Blue Door Apartments, SkillbuilderOnline.com, PMManuals, ReadyMentors, and many more.

Rich has had valuable business experience in a multi-family property management field, making his way to the top by being promoted through various positions such as community manager, training manager, executive vice president, and is the Director of Operations of multiple regional and national multi-family management firms.

Moreover, he has been a longstanding member of the National Apartment Association and has served on the faculty of both the National Apartment Association Education Institute and the Military Housing and Lodging Institute - making him the ideal individual who can help guide you in your multi-family property management ventures.