If you’re looking for an investment, multi-family properties may be a good option. There are several smart reasons to invest in these types of properties, beyond the bonus of collecting monthly rent.
It’s common for multi-family properties to qualify for local tax incentives. A financial pro can help lead you through all the complexities to ensure you’re taking advantage of as many tax breaks and deductions as possible. Government grants may even help offset some of your costs.
Additional income opportunities
Multi-family properties also present additional income opportunities. For example, convenient, secure and centralized laundry facilities present opportunities to offer services like coin-operated machines. It’s a convenience that allows you to collect more money on a monthly basis.
Properties that hold value
Maintaining an attractive, multi-family property not only brings in more tenants, but also potentially attracts investors. A well-kept property that retains its tenants also retains its value. That’s something that could prove extremely lucrative in the future.