Despite the poor economy, millions of Americans are still investing in Real Estate, all over the country. Are you amongst them? If you’re looking for an investment property, or information about buying an investment property in Chicago, you are at the right place!
A property which is purchased with the intent to gain recurring revenue is called an investment property. Such a property is not intended for the buyer to use as a residence, though in the case of a multi-level or apartment building purchase, the owner may decide to reside in one of the units, while renting out all the others. The property types to be invested in can be a single or multiplex unit, including duplexes, triplexes, and apartment buildings.
Occasionally, investment properties are also purchased as joint-properties, whereby a group of individuals collectively own a property and each investor owns an equal interest in the property and has the same rights as every other investor, regardless of his/her investment percentage. Income and expenses in this type of investment property are usually proportionate to the ownership share of the investor. Basically, the higher your share in the property, the higher your income and expenses.
Sensible investments in residential or commercial properties has many benefits, including guaranteed capital growth. Property Investment has been a popular route to wealth for many Americans, for many years. Buying your own home is often your first investment; purchasing another property may well be the second one. Jonathan Tuttle is an expert in terms of buying properties for investment purposes and can guide you through all the steps of this tedious process.