People say that you can never go wrong when investing in real estate and we wholeheartedly agree with that statement. Rarely can a property completely lose its value or suffer due to the passing of time. Of course, there are natural disasters that may pose a threat to your property. But we are going with the assumption that everything will work in your favor. Besides, even if it doesn’t, there are plenty of insurance options that do exactly what their name suggests – ensure that your money stays put. Now, when you want to invest in real estate, you might be perplexed. Which type will bring the best value for your dollar? One thing is for sure – whichever type of real estate investments you end up opting for, it will be one lucrative deal! Over the years, our Jersey City movers have seen all of them, and here come the details!
Investing in office property is one of the best real estate investments you can make
The fact that nothing comes without its fair share of pros and cons can be best seen in the case of office real estate. Let’s say you have the means to buy a big office space in the center of the city. After all, this is where they are usually placed. That or the Financial District, should the city have it. If the economy is thriving at the moment, and a company/individuals occupy your property, the revenues you make can and will be significant. You won’t have any need to constantly dial Edison movers in NJ because the premises are vacant and then leased by the minute. Everything will go your way and you will count your blessing you made such a smart move.
But, should anything happen that would make your office space stay vacant for a while, you would be faced with a big problem. Office buildings have high operating costs that are needed for sustaining a business. So, in case there is no business to pay for them, you as the legal owner would have to do it.
Investing in residential real estate is one of the best moves you can make
If you are looking for the safest option that constantly brings in revenue, this is the way to go. People will always need a place to live and houses will never go out of style, right? And as top-notch residential NJ movers, we can testify to that. However, if you want your real estate investment to pay off, you have to be smart about it. Buying a house without thinking it through won’t do you much good. Instead, make sure you pay special attention to the following things:
- The size of the property. Making real estate investments that are too big is a nice way to show off, but not a nice way to profit from it. Three bedroom houses are the ones that are the easiest to rent out, so have that in mind.
- The neighborhood. Buying a residential real estate property in a good school district raises your chances of profit by a thousand. The proximity to different amenities also doesn’t hurt.
- The curb appeal. First impressions sell, and that’s something we are all aware of. To get a positive first impression, your residential property should have a well-kept yard and a white picket fence as an added bonus.
Are you brave enough to invest in retail property?
You really should be, as the benefits can be incredible. For example, lots of tenants usually give a percentage of their sales to the owners along with the agreed-upon rent. Of course, this should serve as an incentive to the landlord to keep the property in top-notch shape and keep the tenant happy. Thus, an amazing relationship could be formed and everyone would significantly benefit from the deal.
That being said, you should know that there are plenty of retail real estate investments you can make. To large malls to small and private shops in pedestrian streets, there are plenty of options if you decide to dabble in retail. But, just like with residential properties, there are a few things to pay attention to:
- Location, location, location
- Population density
- Median income
- Visibility of the property
- The popularity of the street/neighborhood
Ideally, you would want your retail property to be based in a not-so-secluded street, as the success of a retail business depends on the influx of customers. And everyone wants to be successful, right? Including you!
Industrial property is a somewhat safer option in the real estate investment world
What sets the industrial property apart from its other friends (retail and commercial) is the fact that, generally, smaller investments are needed. Not only do you have to invest a smaller amount of funds, but the operational costs are slightly lower than with commercial and retail properties. Sure, the interest in NJ commercial real estate has been sky-rocketing. But you are more keen on making a safer investment, and that’s totally reasonable. Now, an important thing to have in mind when investing in industrial property is how functional and convenient it is for your targeted tenants.
For example, if you are thinking about investing in a warehouse, you should buy a property that is close to major transport routes. You also need a property with high ceilings, good configuration of the building as well as the presence of outdoor yard. Sure, having all of these aspects integrated into your industrial real estate investment doesn’t mean that you will be able to lease it in record time. But it does guarantee you will have success in the long run, which will open up the path for other real estate investments in the near future. It’s a win-win situation no matter how you look at it!