Real estate investing is one of those income avenues that a lot of people try to step into, and it is simply because it does not take a certain type of professional to buy and resale a home. Plus, there can be investment opportunities small enough to fit even more average budget sizes. If you are just getting started in the real estate investment world, there are certain types of properties that can be more of a logical investment, and single-family property listings are a good example. Here are a few reasons why single-family homes tend to make the best investments for newbie real estate investors without a lot of experience.
1. Single-family homes tend to have lower price points.
You could go for townhomes or apartment complexes as an investor, but if you are just starting out and not wanting to invest a lot of money, single-family properties tend to be the most financially logical in most areas. You can find these property types in just about every price range, including a lower price range if you do not have a lot to invest.
2. Single-family properties tend to sell quickly.
Most listed homes will spend between 65 and 93 days on the market before they sell. At least 77 percent of these homes are single-family dwellings. The fact is, there is a huge market for single-family properties in most areas, so these properties do not sit idle long if you are investing with fixing and flipping your home in mind.
3. Single-family homes are easy to rent or lease.
If you want to pick up a property to rent and earn some passive income as the home pays for itself, renting or leasing the property is a logical move. The good thing about this plan is the available number of rental homes is shrinking in a lot of areas, which means you can easily get an attractive monthly rent on a single-family home.
4. Single-family homes have a broad sea of prospective buyers.
One thing that makes a single-family home such a logical investment property is the fact that there can be so much interest in these properties. If you are buying a home at a cheaper price with intentions to resale for a profit, you should have no problem finding interested prospects. From newlywed couples who are just starting out and married couples with kids to senior citizens and single adults, these properties are desirable to many and easy to liquidate.
For more information on single-family property listings, reach out to Vickie Gallimore: RE/MAX Central Realty.