Real Estate is the best way to grow wealth. Through real estate, you can make your money work for you. However, it can be confusing to know which type of property will be the best bang for your buck, short-term and long-term.
Which is the Best Real Estate Investment Property for you?
There are a variety of options available including Residential Real Estate, Raw Land & New Construction, & Commercial Real Estate to name a few. How do you know which is best for you? It depends on your goals and knowing which will be the best fit for you long-term!
- Residential Real Estate – What is residential real estate? This is a broad term that encompasses single family and multifamily homes, duplexes, vacation homes, and apartments. With the right strategy – residential real estate properties can yield very attractive returns. The steady cash flow as well as the numerous tax breaks make residential real estate an attractive choice for many.
- Raw Land & Construction – What is the difference between raw land and new construction? Not much. Raw land refers to vacant land available to purchase. Construction refers to new properties built on the land. These types of investments can yield a very attractive profit!
- Commercial Real Estate – Commercial real estate includes office buildings, industrial buildings, warehouses, hotels and retail shops. The main benefit of a commercial real estate investment is the potential for higher cash flow. The main downside is that they can be more complex and stressful to manage than a residential real estate property.
All three real estate investment options are smart investments – but it entirely depends on your goals. However, if you are reading this and are a new family a single family or multi family home is likely your best bet!