The Real Estate market is one of the major drivers of economic growth throughout the world. It offers the consumer a wide variety of options to choose from. Some popular types of real estate are residential, industrial, and commercial.
Residential properties include single-family houses, condos, and townhouses. Other types of residential real estate are multi-family housing, such as apartment buildings, duplexes, and triple-deckers.
Commercial real estate includes retail stores, restaurants, shopping malls, office spaces, and hotels. Many businesses lease space from a commercial real estate company for cost reduction and flexibility. These leases usually range from five to ten years.
Industrial real estate includes factories and warehouses. Farms and mines are also considered industrial properties.
Investing in real estate is a great way to create multiple streams of income. In addition, real estate can be passed down to future generations. This can be done through a purchase or through a rental property.
The real estate market is a vital source of tax revenue for the government. New home construction is a key indicator of the health of the housing industry.
A real estate business can make large profits through house flipping. When a home is flipped, it is sold for a higher price than it was originally purchased for. During the process, repairs can be made to raise the value of the property.
First time investors often opt for wholesaling. They contract a property to a real estate wholesaler who then finds an interested buyer. Usually, the wholesaler does not do renovations on the property.