4 Types of Multifamily Properties
Are you a real estate investor looking to acquire a multifamily property but you aren’t too sure on which buildings to purchase? Perhaps you’re just not familiar with what kind of property you’re going to get.
Multifamily properties come in different packages. Which ones you’re going to unwrap is something you have to find out for yourself. Here are 4 types of multifamily properties you can invest in:
These types of multifamily properties are the most common ones that investors find.
Apartments are multi-unit buildings with several floors. Usually, they may be confused for condos but the difference between them is that multiple owners usually own several units of a condo, while only one owner can own an apartment.
If you’re an investor who doesn’t mind playing the role of landlord, this property is for you.
A townhouse can be confused for a single-family home, but are generally considered to be multifamily properties.
Townhouses are single-units that have several floors and are usually stacked next to other townhouses. They are owned by one person which further confuses the first-time investors but make no mistake, these are multifamily properties in every right.
They are more affordable than single-properties. If you missed the singularity of a single-family home but needed to make an investment into multifamily property, seek these out.
If you want multifamily properties that can be more easily organized, invest in duplexes.
Duplexes are single buildings split into two houses side-by-side. If three houses are split, it is known as a triplex which means they have three units, and if they have been split into four they are known as a quadruplex which means they have four.
If you want more organized units in a multifamily property, put your money into this one!
Mixed-use buildings are general properties that are used for several economical, commercial, and residential reasons.
If you need a multifamily property to promote your business for further investments, these are the multifamily properties to put your money on.
So what kind of property will you invest in? Will you be the investor to find a new type of property of the multifamily kind? You’ll only know by stepping out into the risky but rewarding world of real estate.