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Real Estate Investing – Single Family Home vs. Condo

real-estate-investing-12-1If you’re considering getting into the landlord game, you might wonder whether it’s best to buy a single family home or a condominium. Many people believe it best to stay away from condominiums because of all the issues with homeowners associations, and they have a point. However, single family homes have many issues, too, so don’t make up your mind so quickly. Consider these things:

Investment returns When you’re buying an investment property, the first thing you should do is pencil out your real estate deal to see if it has fair cash-on-cash investment returns. As a general rule, you’ll find that single family homes typically have lower cash-on-cash returns than condominium properties. So a fair deal on a single family home might be a cash-on-cash return of 3 to 5 percent, while a condominium might have 4 to 7% returns. The condominium will probably take this round, but every property is different, so you need to pencil out your specific deal to understand the returns.

Tenant turnover Every time your tenants leave, you’ll need to re-rent the property. And it’s a lot of work! You have to advertise, take calls and emails, show the property, draft a lease, do a credit check, move the old tenant out,... Read More

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Norris & Company Rentals, Inc.

Norris & Company Real Estate is proud to announce the addition of Carol Prezioso as manager of its rental division, Norris & Company Rentals, Inc. Carol brings more than 10 years sales experience to the table, along with excellent organizational and customer service skills.  She gained much of her sales knowledge while working in the real estate division at the Indian River Club. In addition to sales, she has a strong background in marketing, which she utilized as Indian River Club's Membership Director. She joins Carol Makolin to round out the rental department "team".  For all your property rental needs, call them at (772) 774-4405.... Read More

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