Purchase an Investment
A Secondary Rental Home
Dan owns many investment properties of his own has has unparalled expertise in this area. He can help you invest in real estate from additional homes, to multi-family (4 units or less), to commercial (over 4 units) properties. Dan owns each of these types of investments and can help you understand the nuances of good investment practices.
A rental property is another home you purchase and rent out other than the home in which you live. A few of these rentals are a fantastic investment in the future. Since the market is down, these properties are fantasic values. Equity gains on a property purchased in a down market can be fantastic. Also, property ownership is a great hedge against inflation - something that is coming soon. Single units are the easiest form of property ownership and can be sold quickly without the same challenges inherent in larger rental complexes.
Multifamily Rental Properties
Multifamily owners have the advantage of being able to own multiple rentals in a single location. these types of properties, (Duplexes, Triplexes, and Fourplexes) are a bit more maintenance intensive and often have common utilities which are paid by the owner instead of by the tenant. There are real challenges of dealing with multiple tenants and the issues that arise with larger properties and maintenance. A good multifamily property can provide a supplementary source of income to the owner. Owners can also benefit from equity gains, tax advantages, and monthly income.
Commercial Investment Properties
Commercial rental properties are usually managed by third parties or as a business for the owners. They are really independent business and can be as large as hundreds of units. These properties are owned by institutional buyers as well as by individual investors. These properties are usually owned in LLC's or other types of corporate structures. The equity gains and tax advantages can be large, but they require a significant amount of expertise and lenders will want to see this experience.