A.D. Cantelmo Property Management
Our Business is Property Management in Orange County California
Why are investors looking to Multi-Family Properties?
Multi- family housing is on the rise, and investors are
looking very favorable at it. Why is Multi-Family housing so popular? The one
big reason is that younger adults are more comfortable renting then they are
buying. Many have grown up hearing about the Real Estate Market being so
damaged and so many people losing their homes that they don’t want to become a
statistic. They would rather rent and if things don’t go well, they can just
walk away.
Another reason is that with the job situation the way it is, many
younger people want to be mobile, in case they need to move for a new and
better job.
The later is the more important reason. In years past, people
would get a job, get married and buy a home. They would stay in that job for
many years. Today people go where the jobs are and have no problem moving to
get a better job.
In my business of Property Management in Anaheim Ca. I find
that people would much rather live in a 4 plex then live in a huge complex.
This type of living is less expensive then a single family home and is still a
small enough community that you don’t get the feeling of being surrounded. Also
the rules in a 4 plex are much more flexible then living in a huge condo complex.
In the Multi-family units that I manage, I allow the Tenants to make many of
their own rules as long as they all agree. Sometimes I have to step in, but for
the most part in a smaller complex people appreciate the freedom and not having
the Manager always on them for small issues. In a huge complex it is impossible
to be flexible.
For investors there is good money to be made and since your
units are in one place it is much easier to keep an eye on.
If you are an investor and thinking about getting involved
with a multi-family property, look for one that is in a convenient area and has
shopping and entertainment close buy.
Many of the younger renters like to be able to walk or ride their bikes
and if the property makes that easy, you can get higher rents for the property.
Multi-family properties can be a very lucrative way to invest and I always recommend
a duplex and a 4 plex. When you get more units then that it becomes a little more
complicated, so if you are just starting out, keep it small and keep it simple.
A.D. Cantelmo Property Management Specializes in Property
Management in Orange County Ca.