The Pros and Cons of Buying Multifamily Property
The advantage of buying multifamily property (like any income property ownership) is real estate investors can grow wealthy in the long run. Simply by holding onto the property and letting “other peoples money” payoff the debt, even if there is no immediate cash flow, is what drives people into real estate investing. Moreover, multifamily properties serve a basic need, which limits the downside risk in that they provide shelters to those who cannot afford or who do not choose to buy real estate.
The downside to owning multifamily property mostly concerns the management problems associated in dealing with tenants–apartments can be management intensive, though there is a way to minimize this disadvantage. When you purchase multifamily property you can hire the services of a professional property management company to deal with the day-to-day issues of running the property. So you do have options.
More details in next post to follows about multiplexes– part4 (The comments contained on this site are for information purposes only and do not constitute legal advice.)
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