Year end thought: Multifamily Investments

[Priyanshu Adathakkar]

Investing in apartment complexes should be considered a longer-term and possibly deeper commitment than owning and renting out single-family homes. It takes longer to sell a building or large complex than a home and it may take some time to get the hang of managing such a large property. However, if it’s done right, owning a multifamily complex can provide a constant source of income for years to come with considerable upside along the way. Any investment is a balance of risk, work, and reward, but if you’re ready to take on a bigger challenge and move to the next level of investing, then a multifamily project might be the right bet.

Investment Tips

1. Have a property management firm screen your tenants
2. Require that your tenants have renter's insurance
3. Make sure your property is protected for vandalism due to the tenant not taking care of the rental
4. Make sure you have insurance that covers you for fair rental loss
5. Make sure you have adequate limits of liability