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You've heard it over and over again, the majority of wealth is created through real estate.
90% of all millionaires became some through owning real estate - Andrew Carnegie
Investing in real estate can be a very lucrative way to build wealth and generate passive income, but it's important to understand which types of properties are currently in demand among current investors. By focusing on these types of properties, you can increase your chances of success and make the most of your investment dollars.
Currently, one of the most in-demand types of properties among investors is single-family homes. These homes are popular for a number of reasons, including their relative affordability and the potential for strong rental income. They also offer the opportunity for long-term appreciation, as well as the ability to generate cash flow through rental income. Many investors also see single-family homes as a hedge against inflation, as property values tend to rise over time. Another reason why single family homes are hot right now is that a lot of areas are becoming more lenient on adding additional suites to convert into a multi family property.
Another type of property that is currently in high demand among investors and my personal fav to invest in, is multi-family homes, such as duplexes, triplexes, and apartment buildings. These properties offer the opportunity for strong rental income and long-term appreciation, as well as the ability to generate cash flow through rental income. Multi-family homes can also provide economies of scale, as the costs of maintenance, property management, and other expenses can be spread out over multiple units.
Another property type that is popular among investors is commercial properties, such as office buildings, retail centers, and warehouses. These types of properties can provide a steady stream of rental income, as well as the potential for long-term appreciation. Additionally, commercial properties can offer tax benefits, such as depreciation and cost segregation, which can help to lower your overall tax burden.
Another property type that is gaining popularity among investors is vacation rental properties, such as beach houses and ski chalets. Even tiny homes like container homers are on the raise. The rising popularity of unique rentals like plastic dome huts and yurts make short term rentals a hot commodity right now. These types of properties can provide strong rental income, especially in tourist-heavy areas, and the opportunity for long-term appreciation.
In conclusion, the types of properties that are currently in demand among investors include single-family homes, multi-family homes, commercial properties, and vacation rental properties. These types of properties offer the potential for strong rental income, long-term appreciation, and cash flow. It is important to do your own research and consult with a professional before making any investment decisions.
Where do you want to invest in 2023?
Need help deciding or not sure what your best plan of action is? Let's chat!
With Love,
Sara
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