Investing in real estate for the first time is an exciting milestone. Once you’ve made the decision, you need to become familiar with the different property options on the market. Then, once you have an idea of what you want, contact your broker to start your search. In the meantime, here’s a helpful guide to point you in the right direction. 

What Are the Main Types of Real Estate?

1. Residential

Residential properties include stand-alone and multi-unit options, such as vacation homes, single-family homes, townhouses, apartment buildings, and condominiums. Some residential properties fall into the “fix and flip” category, while others are sellable the way they are. One of the benefits of residential properties is that they can be rented, regardless of type, as long as they are in livable condition.

2. Commercial

Commercial real estate offers even more options than residential properties. It can be used for different businesses and operations, depending on the building size and structure. If you purchase a large commercial building, for example, you could rent it out as an office, retail, or service industry space. Other commercial buildings function best as hotels, shopping centers, medical buildings, and schools.

3. Industrial

Warehouses often come to mind when people think of the term “industrial real estate.” However, this category also encompasses buildings for the manufacturing and storing of goods, such as factories and storage rental properties. Industrial complexes used for scientific studies and labs also reside under the industrial umbrella. It’s possible that you can charge higher rental fees due to stricter zoning laws and higher taxes that often accompany industrial properties.

4. Land

Vacant lots in up-and-coming communities provide worthwhile investments because they can be used in numerous ways, such as for a grocery store, salon, or office building. Ranches and farms feature acres of land as well as several buildings, which can be demolished or developed, depending on why you made the investment. 

 

Discuss your real estate investment ideas with Guru Management, LLC. This property management company has been serving clients throughout the Houston Metro area in Texas since 2015. Rely on their talented, experienced consultants to assist you with property flipping, new construction, or simply finding the right investment. Call (347) 409-2568 today to speak with an agent today.