Jumping into the real estate investing world can be intimidating at first. However, like every new venture, research, planning, and the right connections are the building blocks to a sound financial investment. Real estate investment properties have steady earning potential, and can be an excellent first investment when you partner with a Novi property management professional!

• Single-family properties are the most popular investments for first-timers.
• They are more commonly available in the marketplace because someone is always looking to sell.
• The single-family home can be rented out for income, and the investor can pocket the profits after expenses.

About one in every 300 properties in Detroit is categorized as "distressed." That may not sound like a lot, but when you factor in the fact that there are several hundred thousand homes in the area, the numbers add up quickly.

A distressed property can provide a great return on investment. However, for your property investment portfolio to flourish, that same property must be brought back to life—and kept alive.

There are many factors involved when revitalizing multi-family properties in Detroit: If you don’t have the time or temperament to supervise renovations or tenants, property management might be right for you! If you are single-handedly trying to manage multi-family units or small apartment buildings, the demands involved can feel like a downpour of problems for a solo investor. This is where a property management company in Detroit can be a huge asset to your portfolio!

As any seasoned investor in real estate knows: issues can multiply fairly quickly—and your investment portfolio is then at risk. Here are some things to consider when bringing distressed assets back to life.

People who succeed with multi-family real estate agree with Sarah Beeny, who said, “There will always be people who make money because people always want homes.” Often, someone who adds multi-family real estate to their property investment portfolio is providing a solution to people who, as Ms. Beeny puts it, simply “want homes.”

It can be fulfilling to provide a cozy place to live, but there are challenges specific to multi-family units that may come up. These could include issues with the paperwork, the value of the home, and the process of maintaining a healthy ROI. If you take the right steps, however, providing for people who “want homes” can be an enjoyable—and profitable—experience.