When considering long-term investments, there are many reasons for investing in real estate is the soundest option. If you are researching real estate investments, you might already know the number of MFU investors in NYC is increasing. Here are a few reasons MFU investments are growing in popularity.
Multi-Family Units Are Plentiful
In areas like New York City, there is a dense population. That naturally means there are going to be more multi-family units available. While there are many areas that have plenty of single-family dwellings, they are just not as plentiful.
More Doors Equal More Money
Owning a SFU means you have one stream of income coming from that address. MFU investors in NYC know having multiple doors at one address means you have multiple streams of income coming from one investment. Another benefit is if one tenant moves out of your MFU, there is still income made from the other occupied units. In the case of an SFU, you lose income on that address if there’s no one living there.
Small Improvements Equal Higher Equity
As an investor, you already know it’s not often you will find a property that doesn’t need any improvements. When MFU investors in NYC make small improvements to all of the units, it can raise the equity exponentially. What’s even better is small improvements in common areas of the building benefit both the owners and the tenants. Another big benefit is you don’t have to upgrade everything all at once with an MFU. It can be done gradually and between tenants.
If you are ready to take your investments to the next level by diversifying your portfolio, contact Avid Realty Partners today.