If you are interested in real estate investing, then you'll want to think about the type of real estate investments that would work best for you. This will depend on your budget, your time, and your interests. Below, you can learn about a few of the different types of real estate investing that you can become involved in. When you read this article, it can shine a light on what is right for you, then you'll be one step closer to achieving your investment goals.
Rent out homes
Many people who are interested in investing in real estate decide to take on the role of renting out their residential properties to renters. You can purchase some single-family homes to rent out, or you can purchase any other type of residential dwelling, including mobile homes, manufactured homes, condos, townhouses, duplexes, triplexes, small apartment complexes, or large apartment complexes. The great thing about this is that you can be as hands on or off that you want to be. You can be the manager, or you can hire a manager, or you can hire a management company.
Flip fixer uppers
Flipping homes has become extremely popular in recent times, with many people purchasing fixer-uppers to fix and sell. If this is something you want to do, then you will want to do your homework and make sure that you become extremely knowledgeable with regards to the real estate market. You're also going to want to do your homework on the areas in which you are thinking you want to buy homes in, so you can minimize your risk.
Rent out retail space
If you would rather deal with commercial real estate, then you might want to purchase some retail space that you will be able to rent out to people looking for a place to rent for their business. The great thing about this is that as long as the tenants are able to get their business off the ground, then you will probably end up with tenants that will stay in that place for a very long time.
Rent out industrial space
You can also purchase industrial space that you will be able to rent out to a company who is in need of a place for their warehouse or manufacturing needs. Once you get a company into this type of space, you will likely be able to count on having long term renters. Unlike the retail space that needs to get off the ground before you can count on long term renters, by the time a company is large enough to need a large warehouse or manufacturing space, the chances are that they already are a successful business.