A lot of people look to single commercial or residential properties when they are ready to start investing. They often overlook multi-family units and these can be very profitable. Many new investors cannot afford major apartment complexes, but there are plenty of properties that have space for two to four families. Investing in these allows you to get multiple rental payments from a single property.
Furnished vs. Unfurnished
When you have multi-family rental properties, you may want to have some units furnished and some unfurnished. This will attract more potential renters to your property. If you are investing in an area that has a lot of young renters, furnished spaces are ideal because they do not tend to have a lot of furniture for a new space. If you are investing in a more luxury area, unfurnished is the best choice because people will want to design their own space.
Commercial and Residential
Some neighborhoods have buildings that have a mixture of residential and commercial spaces. In many cases, these properties have a commercial space on the ground floor and one or more residential spaces on the higher floors. This adds a great investment to your portfolio and it allows you to diversify with a single investment.
Multi-unit or multi-family properties allow you to easily get a solid return on your investment. It helps you to get more for your money when you use the investment to create rental properties because you will secure multiple monthly rental checks for one property.