Whether you’re looking to buy your first investment property or have a list of buildings in your portfolio, knowing more about the types of property available is one way to make sure you get exactly what you’re looking for. While many people think of investing in a nearby multifamily house or apartment to rent, there are many other ways to make real estate work for you. Howell Investment Finance serves the Ames, Des Moines, and Cedar Rapids, IA, areas with commercial financing for your investment properties, and they have a few pieces of excellent advice to get you started.
5 Investment Properties to Consider
1. Office Buildings
Office buildings make strong investments because you earn rent from a range of tenants. When one moves out, you’re insulated from a drop in income by the other tenants still filling the space, so your income from the investment remains relatively steady as time goes on.
2. Retail Properties
A storefront with a great location can be a lucrative investment. Retail spaces can be anchored by a major chain or operate independently. The choice of who you rent to will depend on your investment goals, but either option can be lucrative.
3. Apartment Complexes
The rental market isn’t going anywhere, and it’s especially strong in areas with a high demand for student housing near universities. A building with more units helps ensure that you’re collecting rents, even as people come and go.
4. Senior Housing
It’s easy to forget that assisted living facilities and other forms of senior housing can be great investments. But with an aging population creating demand for a variety of elder care living options, investments in senior housing has incredible potential.
5. Mixed Use Properties
Smart growth strategies are leading many cities and towns to adopt mixed-use developments, where retail, restaurants, housing and service centers are all provided in a relatively compact footprint. These cutting-edge developments are the wave of the future and can make a great investment thanks to the attraction they hold for millennial renters.
To get started on financing for your investment properties, call Howell Investment Finance in Ames at (515) 233-8228 for more information about their mortgages and construction loans. You can also see their website for more information on all of your investment options.