For a property investor in a sagging economy, the beauty of owning multifamily properties is the rental income generated from owning multiple units in a property can still cover property maintenance as well as debt service expenses in the event of vacancies. Owning single family homes as your investment could cause financial hardship if you have a vacancy which translates into a 100% loss of income and such vacancies can be tough to fill in a poor economy.
Significant research is crucial in selecting which multifamily properties to own. Location and property condition are essential in determining the site. Owning a multifamily property can provide the vehicle to turn your initial investment into a significant portfolio with solid returns if handled properly.
Becoming a Landlord is not for the weak of heart, but it can be a rewarding investment in a downturn economy.
Be sure to use a Real Estate Broker experienced in the sale of Multifamily properties to ensure you are getting the most up to date neighborhood and comps information before making your purchase.
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