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| Property - Steven Taylor Taylor Equities |
Article originally appeared at https://medium.com/@steventaylorlandlord/why-invest-in-apartments-steven-taylor-of-taylor-equities-fe093fa457cc
As an investor, I receive a lot of questions from those who are interested in entering the real-estate industry. One of the most common questions I am asked is: “Why invest in apartments?” Multi-family properties are among my favorite investments, because there are many benefits to investing in apartments. Apartment buildings create consistent cash flow, are always in demand, and have major management advantages. Today, I will break down a few of the reasons I encourage investing in multi-family housing.
Multi-family housing will always be in demand.
While the “American dream” may be to own a home, the reality is that many individuals will never be able to afford their own single-family unit. Whether your tenants are young graduates just entering the workforce, or families who can’t purchase a stand-alone home, there will always be a market of people looking to rent an apartment. As you look at areas to purchase an investment property, consider the demand. Are there new businesses nearby with employees looking for housing? A popular school system? A trendy neighborhood on the rise? A major advantage of investing in apartments is high demand, so be sure to tap into the best area before buying in.
Multiple units under one roof are easier to manage than individual properties.
If you are only investing in single-family homes, you may end up with several properties in different parts of the city, or the country, to look after. With an apartment building, you can own and rent many units all in one convenient location. Keeping all of your units in one building allows for easier management. As a landlord, you can hire a single property manager to manage the entirety of your apartment building, rather than needing to be in several places at once. Having assistance on site is the key to a smooth multi-family building operation. Once you have a great property management company in place, running an apartment building can be smooth sailing.
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