If you want to get started in real estate investing, consider purchasing single-family homes rather than apartment buildings. Single-family homes are often a better investment than multi-family rentals, and here are some reasons why that is true.
Very Safe Investments
A single-family home in a decent neighborhood will hold its value no matter what the economy is like. Even if there is a housing bubble, holding a single-family home as a long-term rental means that you will keep it for long enough that you don’t have to worry about temporary fluctuations in the market.
Large Supply of Homes for Sale
You will always find plenty of homes for sale in northern Suffolk VA. There are enough single-family homes to choose from so that you don’t have to take the first one that comes along. You can wait until you find a good deal where you know that the numbers will work for you.
Tenants in single-family homes tend to stay in one place longer than apartment-dwellers do. They are also more likely to keep paying their rent in tough times and not cause damage to their rentals. Your management headaches in general will be much less with single-family homes.
Easy To Sell
There will always be a demand for single-family homes in good neighborhoods. The U.S. government subsidizes many home loans, so you will most likely be able to sell a home when you need to and receive cash right away. When you try to sell an apartment building, however, you may have to offer seller financing to get it sold.
Because of these factors, the beginning real estate investor should consider investing in single-family homes rather than apartment complexes. Multi-family investments can be more complex and not as easy for a novice in real estate investing to handle.