Investing Small: Single-Family vs Multifamily

Self-investment is one of the most popular and attractive ways of investing in real estate - everyone would like to have their business and be in charge of their own income and build the cash-flow of their dreams. But obviously, before we achieve that, there is a rough way we have to overcome. Nothing is easy in this life, especially growing your business and finally gaining success since it takes a lot of our time and energy.

That is exactly why we recommend you start small.

If you are planning to manage a successful multifamily property, first you will have to gain enough knowledge and experience in:

1. Working with tenants;

2. Real estate market prices;

3. Working With banks;

4. Working with the construction company;

5. Local market;

6. Etc.

Since managing a multifamily property means that you will be working with multiple tenants and will need to meet all of their needs. By starting small - in this case, starting with a single-family house, you are allowing your self to have enough time for growth to be prepared for challenges that come with being a landlord of a multifamily house.

After successfully renting out the single-family house, you can start slowly expending, by buying more land or updating the current house with the help of a construction company so it can fit more than one family. Level up to 2 families, then 4, if everything goes well you can update to 10 and at the end become a successful landlord of a multifamily apartment.

Rushing into the big numbers straight from the start could bring you a lot of stress, you might not be able to deal with the problems of all tenants and it might end up with them leaving your house. Take your time while developing your business, rushing is never a good idea, especially when it comes to offering people a living place.

If you are planning to self-invest and slowly expend your business, working with the right construction company is important, so don’t hesitate to contact us today so we can help you achieve your dreams.