Life Beyond Self-Help Books
The hunger for success often leads an individual to a path where they must fight hard to survive.
In the past decade, the real estate industry has witnessed a massive popularity boost as more people have started seeking out a career in this particular field.
As most businessmen would know, real estate is an ideal investment for investors who are hoping to take a more active role in growing their capital instead of passively putting their money away into a fund that is managed by someone else. And one of the best things about investing in real estate is that there are a number of strategies you can use to generate enough profit from it when you play your cards right.
Professional investors out in the world have made more than a million dollars simply by flipping properties or purchasing properties that are in dire condition for less money and then renovating them to sell them to interested owners – leading to one of the reasons why many investors prefer investing in rental property as it gives them an additional source of income monthly while simultaneously adding value to their portfolios.
There are two types of properties when it comes to residential real estate where you can invest in either a single-family or a multi-family.
With the single-family properties, they are considered residential buildings that have only one unit available for rent. In contrast, with multi-family properties, you will find more than one space that is available for rent – hence, there are more benefits to investing in bigger residential places and here are some of the reasons why we believe so.
Easier to Finance
Despite the higher costs in purchasing an apartment building rather than a small house, it is actually considered to be a good investment for long-term means.
It is simpler to get approval from the bank for a multi-family property because these types of properties tend to generate a lot of cash flow each month. This will remain the case even if your property has several vacancies or few tenants that are behind their rent payments.
Property Manager Improves Progress
Investors enjoy the part where they need to make investments – but when it comes to the management part, they would rather hire a property management company that handles their daily rental operations.
Property managers handle evictions, collect the rent payments, and more. They are also paid a certain percentage of the monthly income that is generated from the rental properties.
If you are curious to know more about how rental property management works, consider reaching out to professionals like Richard E. Shaw who can help you figure out what you need to know when it comes to all matters related to real estate.
Shaw owns the prestigious RESCORP Properties, LLC where he works on managing the construction, marketing, and the financing of industrial, commercial, and multi-family real estate properties for all of his clients.
He also invented the Credit and Debit Receiving and Dispensing Device which is based on the system of a vending machine that allows its users to utilise debit and credit card payments instead of only cash. Furthermore, he has also been known for many of his literary works, some of which include “Habits of Highly Effective Entrepreneurs,” “Hidden Treasure,” “PASSIONAIRE,” and more.
Learn more about the author Richard E Shaw
Richard E Shaw is an American Author, Writer, Educator, Inventor and Entrepreneur