Is Now the Time to Invest in Multifamily Real Estate?
Single-family properties can certainly add value to a real estate investment portfolio, but as rentals, they can be risky without the benefit of stable, long-term tenants. Multifamily properties, however, offer more potential because the ability to house more tenants results in more income, even when turnover happens.
While high property values make it tempting to sell right now, here's why you should look to keep and expand your investments in multifamily housing.
Property values are at all-time highs, and now mortgage rates are on the rise, forcing many to remain renters for a while longer. Some have even given up the idea. In fact, 22% of millennials say they'll be leasing for life, according to data from Apartment List. Additionally, the Pew Research Center reports that around 31% of young millennials (age 25-29) currently live in a multigenerational household, showing that more people are staying at home for longer as well.
Source Fool.com
