A good way for a new investor to start their real estate investment career is to purchase multi-family units and begin to rent them out. The ideal size to look for is four families (or less) per building so that you can get a building with a residential mortgage while you still enjoy lower interest rates.
Investing in multi-family buildings is less risky than other types of buildings because there will be more investors that will be interested in the single family buildings. Thus, the price of these buildings will increase while maintaining positive cash flow.
Furthermore, multi-family units rake in more cash each month since you can get higher rent from multi-family units than a single unit. This makes you more money every month for almost the same mortgage payment with single unit buildings. As a result, you will enjoy more positive cash flow.
The cost incurred in repairing multi-family buildings is also less when compared to that of single units. For instance, if you have 3 single family homes and the roof on each one of them needs to be replaced, more money will be spent per unit. However, if your triplex needs a new roof, this means you’re changing 3 roofs in one building which translates to a lower cost to repair or replace your roof.
Hiring a Roofing Professional
As your multi-family buildings age, you will be required to replace the roof. The roof plays a crucial role in determining the value of your property in the real estate market. A strong, durable and energy efficient roof will increase the ROI on your building as time goes on.
Get in touch with Denver Roofers for any roofing needs of your multi-family buildings. We are equipped with new technologies and methods to provide you with the best service and solutions for your roofing needs. Whether you are battling with roof leaks or you need an emergency roof repair, Denver Roofers has the trained technicians to get the job done right!