There is a HUGE SURPLUS of individual homes, and there are people who want to sell homes and downsize. So the way I see it, for the next 5 years there is going to be ZERO growth in the home market.
But that said, what about investing in apartments? There are foreclosures happening daily in the HOME market and the current crop of financial advisors are increasingly pushing people toward the rental market.
I've found some land on a small lake that is already zoned for multi-family building. The community is up & coming but still very modest. Of the communities in this region, it is one of very few that is still showing growth. I'm giving some serious thought to putting up some apartment buildings that overlook the lake. Maybe something like 8 or 10 units at roughly 1000 to 1100 square feet, 2 bedrooms each.
Any thoughts on the real estate market now for investment?
Currently the majority of my income comes from long term leases on commercial property but I'm looking to reduce risk and get out of single-tenant properties.
It seems to me that multi-unit rental property may actually be the one place where investment may be a good choice.
But that said, what about investing in apartments? There are foreclosures happening daily in the HOME market and the current crop of financial advisors are increasingly pushing people toward the rental market.
I've found some land on a small lake that is already zoned for multi-family building. The community is up & coming but still very modest. Of the communities in this region, it is one of very few that is still showing growth. I'm giving some serious thought to putting up some apartment buildings that overlook the lake. Maybe something like 8 or 10 units at roughly 1000 to 1100 square feet, 2 bedrooms each.
Any thoughts on the real estate market now for investment?
Currently the majority of my income comes from long term leases on commercial property but I'm looking to reduce risk and get out of single-tenant properties.
It seems to me that multi-unit rental property may actually be the one place where investment may be a good choice.