Do you need an on-site property manager? The reality is that this type of property management professional should only be considered a “must” if you have a very big complex. That being said, this can be a difficult pill to swallow for many property owners.

Hiring someone to live on-site can provide a sense of security in the form of a second set of eyes and ears—a second-in-command that can represent your interests. While this is not far from the truth, on-site Detroit rental property management is often not worth the investment of money or the loss of potential rental space—especially when you can hire a property management company to do what an on-site manager could.

There are some important considerations to keep in mind, regardless of which way you end up going. Here are some of them.

Despite the benefits of owning duplexes, fourplexes, and various other plexes in Novi, the average real estate investor only owns two rental units. If you take into consideration all of the landlords that manage properties with eight, ten, or even more units, that means many investors only have one property!

One of the most significant roadblocks to multiple-unit ownership is the cost of acquiring more than one property. When you pile the hassle of managing multiple properties on top of that, the challenge becomes insurmountable for many investors. Investing in Novi multi family homes may be one of the easiest ways to overcome these and other challenges. 

If you only have one rental property, multi family units may be the easiest entry point to doubling, tripling, or quintupling your investment income. If you’re on the fence between purchasing a single family or a multi family unit for your Novi portfolio, you may want to give these productive assets your time. Here’s why.

John D. Rockefeller's words have never been more valid than they are now: "The major fortunes in America have been made in land." Whether you're on your way to becoming wealthy—or are already there—real estate investment is a powerful vehicle to help you reach your destination. As a professional Plymouth multifamily management company, we know that your portfolio makes you an integral part of the Plymouth economy!

• Multifamily real estate investing is an opportunity to get more bang for your buck—as well as gain access to a wider market.
• Owning a multifamily property means that several considerations are consolidated to one central location.

For example, no matter the amount of units, there is only one location that needs landscaping or maintenance. This helps remove unnecessary complications and streamline your business.

Of course, those are just a sample of the benefits that investors can expect from choosing to diversify their portfolio offerings with real estate. Regardless of where you are in your wealth journey, multifamily properties can be a great way to reach your destination! First, it helps to know more about what multifamily ownership can be like—and how to get there.