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Real Multi
Coldwell Banker Survey Identifies Multi-Generational Homes as a Trend in Real Estate
PARSIPPANY, NJ--(Marketwire - 02/22/10) - Family reunions are taking on a new meaning in the real estate market. According to a recent survey by Coldwell Banker Real Estate LLC among its network of real estate professionals, in the last 12 months, 37 percent of sales professionals surveyed noted an increase in homebuyers looking to purchase homes to accommodate more than one generation of their ...
Phoenix Real Estate - are There Advantages to Multi Family Units?
If you are looking to invest in real estate in the Phoenix area, you may want to consider putting your money into multiple family dwellings. Considering the current downturn in the economy, it really makes good sense to invest in this type of housing verses a single family home. Here is some information that will help explain why this would be a smart decision.
Creating wealth through real estate investing is something many savvy business people do. What are the advantages of putting your money into small residential income properties? Suppose out of 10 units, 2 are vacant. The monthly costs to the investor are much lower than that of an empty single family home. Make sense?
Here is an example:
Let's say owner "A" invested in a single family home of average size that normally rents for $1200 with a mortgage of $1000 per month. This home is now empty, and for one months mortgage the owner is out $1000. This comes out of his own pocket.Now, owner "B" has a 6 unit multi family dwelling and each unit rents for $700 per month. The monthly mortgage on this property to the owner is $3000. Two units are vacant, which means he will receive $2800. This only leaves the property owner $200 short of making his mortgage payment. Now, think about the outcome to you, the investor. Would you rather have $1000 or $200 coming out of your own pocket for that months mortgage payments?This is one of the benefits of investing your money in multiple family dwellings. You can see why putting your money in a single family home isn't such a good idea when you can spread the risk among more units. This helps you to create a more efficient cash flow for yourself and create future wealth. Can you see how investing in several multiple dwellings could help secure your financial future?Owners of multi family dwellings also have plenty of other advantages. With repairs, for example, you can write off a portion of the cost inmany cases. When you own a single family unit, you get no immediate tax benefits. Investing in real estate is one of the best ways to insure that your future is secure. Real estate and residential properties rarely ever decrease in value, and tend to increase over the years. Of course, investing in single family homes is a good decision, but diversify and put some of your money into multiple family dwellings.
Of course, the negative aspects of owning a multi family dwelling will come to mind, such as getting calls from tenants with repair and maintenance problems. This does occur, but it really isn't as often as you imagine.The hard and fast facts are that multiple dwellings will insure that you have a steady income stream that is as recession proof as any investment you could possibly make. Your family's financial security depends upon making smart investments, and this is one of the best!
About the Author
Maureen Karpinski
Find your Phoenix Arizona Property at Cactus Country Arizona Homes & Properties