There are 3 main types of real estate investments; read below to figure out which one is the best type of investment for you.
1. Residential Real Estate
This type of property is probably the most popular type of real estate investment. There are tons of TV Shows that glamourize fixer uppers and fix and flips, and there are a lot of resources available to help you learn and understand the world of real estate investing. If you’re new to real estate investing, this is where you’ll want to start because it’s the easiest way to get into investing.
2. Commercial Real Estate
Commercial real estate is property used for business purposes. It is a great investment but it definitely comes with a lot more time, effort and risks. Investing in commercial real estate can offer potentially higher income and steadier cash flows, but it does require investors to do more due diligence and have better knowledge of the market.
3. Vacant Land
Vacant land is property that does not have any prior construction. Investing in vacant land can open the door to endless possibilities, but it does not generate quick income like investing in residential and commercial real estate can. Vacant land often requires extensive research and can take up to years to develop.
Investing in real estate can be very rewarding, but it’s always important to do your research and understand what works best for you and your lifestyle.