Real estate investing is a challenging trade. The competition in real estate investing can be extra competitive especially for those real estate investors who are just starting out the business of real estate. For real estate beginners who want a positive start in real estate investing, take note that the competition in real estate is highly competitive than expected. This could mean that the business of real estate is a lot more competitive particularly for beginners. However, investors and commercial agents just love investing on multi-family properties. By taking advantage of the lower residential mortgage interest rate, investors can start off with multi-family Washington Homes, for instance. Here are the top 5 reasons why you should start your real estate career with multi-family properties.
1. Your multi-family property is an income-producing asset that spawns income every month so, you don’t need to worry even if you get laid off from your job today!
2.You can take advantage of the “ancillary” income aside from the Rental income you can get from multi-family homes. This is a supplementary income from leasing fees, vending machine fees, faxing fees, laundry services fees, and so on provided to you by companies who want to provide services to your residents.
3. You don’t pay for the expenses of your multi-family Washington Homes property such as mortgage, taxes, utilities, payroll, advertising, landscaping, etc. It pays its own expenses!
4. Investing in multi-family properties is less risky compared to other types of real estate housing investments. Once one of your tenants or residents move out, you will still have the money to pay for the expenses. Unlike in single family properties where you can lose your income and be burdened to pay the mortgage and other property expenses when a resident moves out.
5. The repairs that the property paid for are entitled for tax refunds as well as allowable deductions and depreciation from your multi-family properties.
Add the high returns, leverage, and high property values. These are just some great reasons why multi-family Washington Homes are a good start for novice real estate investors. Taking advantage of the current housing market conditions, investing in multi-family properties will surely allow you to reap tons of benefits.