When deciding to purchase an investment property, you should make yourself aware of the different types of Philadelphia real estate that you can purchase. Remember, an investment property is anyPhiladelphia real estate property that will bring in some kind of rent or income for access to leasehold rights. You can choose to invest in
- Single Family, Duplex, Triplex, Quadriplex – Basically a small house, with one to four separate units.
- Apartment Building – These buildings have 5+ units in them.
- Residential Complex – Philadelphia real estate with several buildings, each with multiple units.
- Individual Retail Building – Used to house stores.
- Strip Mall or Shopping Center – Philadelphia real estate property with multiple units for stores, usually with parking spaces. Can be open-air or an enclosed retail mall.
- Office Buiding – Building with multiple office spaces in it.
- Warehouse – A building whose main use is for storage, vast in size.
- Vacant Land – A parcel of land which has not been built on.
As discussed in my blog, “Types of Philadelphia Real Estate Property Ownership,” there are different forms of ownership, investment goals, and situations, especially when you are not the sole owner but are investing with partners. The differing investment situations come when you enter into a Philadelphia real estate investment syndicate. This structure involves a number of individuals who join together to invest in one property/project. With private syndication, there is a small group of investors that usually know each other before a deal is made. Conversely, a public syndication will involve a large group of investors, where interest usually comes in the form of shares/securities. The main difference between the two types of syndication’s when investing in Philadelphia real estate is the type of management control and liability associated with the partnership.
If it all is a little too confusing to you, as it is to most, be sure to contact the experts. With regard to Philadelphia real estate investing, get in touch with a real estate agent, an accountant, and an attorney! This team, including your Philadelphia Property Management professional, will help prepare you for a lucrative and beneficial investment.
