The Different Types Of Real Estate Investing You Should Know
Real estate is land consisting of the structures and land on it, and its accompanying natural resources like water, plants or minerals; and its use as a source of income, such as buildings, mines or houses, in general. Usually real estate deals are undertaken by people who live in a particular place and generate income out of that place. Real estate investing, real estate flipping, property investment, commercial real estate, residential real estate, foreclosure real estate, tax foreclosure real estate, farm real estate and other real estate related activities are termed as real estate.
Characteristics type of real estate:
There are many economic characteristics that distinguish one type of real estate from another. Among these include the characteristics of the land, local government policies, the population of the area, the presence of natural resources, the availability of sewer systems, the main types of industries located in the vicinity, and its overall economy. All these factors affect the value of real estate properties and their desirability. The three main types of residential real estate are single-family detached homes, multi-unit dwellings with two to three units, townhouses, condominiums, row houses, and manufactured homes.
Single-family detached home:
Single-family detached homes are available in different styles and sizes and come in various sizes and price ranges. They may be designed according to the owner’s preference like having a garden, a pool, or a built-in garage.
Some models have additional features like a kitchenette, a porch or a patio. Examples include the Townhouse Collection by Intermetro, which has two individually owned independent homes surrounded by five storey-block cores in a four story, fully finished Condominiums by The elder Companies, a high-class luxury residence in Sunny Isles Beach, Florida, and examples include the New York condos by Villa America, the Dallas Lakeside community by Villa Capitana, and the Phoenix residences by Century 21.These are just some of the single-family detached real estate properties available in different price ranges.
Man-made structures or natural structures:
Multi-unit dwellings with two to three units are built on land and considered as either permanently attached or for lease. Permanent attached properties are those that were built on the land itself and may not be relocated. They can also be categorized into man-made structures or natural structures. Man-made structures include hotels, restaurants, office buildings, shopping malls, and apartment buildings. Natural structures include reservoirs, parks, golf courses, bridges, and tourist sites.
The third type of real estate includes residential communities or townships. Most of them have common services such as schools, shopping centers, fire stations, hospitals, and police stations. Examples of this type of real estate include the New Townships in New Jersey, New York City boroughs, the village of Eastvale, California, the communities of Passaic, New Jersey, and Southport, Ohio.
You may also want to invest in a rental property so that you can have an extra income source. However, before you decide to invest on a rental property you should learn everything you can about how to get the most out of it. Since a rental property is most likely to be left unused, the money you get from it can go directly to your pocket. Thus, if you want to make the most out of your real estate investment, be sure to learn everything about rental property.