Multi-unit investment properties are great sources of revenue for many investors as they provide benefits that are not typically available for single-family investment properties. As an industry leader within Ottawa’s Design and Build industry for multi-unit residential construction projects, we will highlight and bust top myths about multi-unit properties so you can be equipped with the knowledge needed to make informed decisions about your investment goals.
Let’s go over these 5 myths…
Table of Contents:
Myth 1: Multi-Unit Properties Are Only for Large-Scale Investors
It is still of the popular opinion that multi-unit properties are available to only those who are wealthy… Contrary to this belief, multi-unit properties are not solely exclusive for big-shot investors who hold a significant amount of wealth.
Multi-unit investment properties in Ottawa are accessible to individuals of various budget levels and experience. Newer and smaller scale investors can efficiently get into the game by making modest investments towards duplexes and triplexes which comes with scalable opportunities that are aligned with their investment goals.
OakWood is a trusted partner for small-scale investors who are looking for accessible and high-quality multi-unit investment properties. For example, we can help you get started by helping you design and build a triplex in an up-and- neighbourhood. With the guidance of a trusted partner such as OakWood, we can help you transform your new investment into a thriving scalable revenue-generating property
Learn how our investment property experts in Ottawa can help you achieve your investment goals!
Myth 2: Managing Multi-Unit Properties Is Overly Complex and Time-Consuming
The second myth is that it is not manageable and very difficult to manage your property yourself. While managing any property comes with its own set of risks and challenges, it would be outdated to say that it would be too complex and time-consuming for someone to manage it themselves.
For example, various property management apps can help you with rent collection, maintenance requests, screening tenants screening, etc. Combine this with the help of a reliable and vetted property management service provider, you’ll quickly discover a more hands-free, hassle-free and scalable investment solution.
OakWood specializes in designing properties with low-maintenance features, making management less daunting for you. Discover why people across Ottawa choose OakWood for their multi-unit investment properties today.
Take a look at the types of investment property projects we excel at!
Myth 3: Multi-Unit Properties Don’t Offer a Good Return on Investment (ROI)
Another misconception is that multi-unit properties do not provide you with a great return on your investment.
In fact, you will be pleased to hear that multi-unit properties can give you a more stable and higher yield than you might expect. Ottawa’s rental demand is continuously growing, expanding your potential for a consistent revenue stream for many years to come.
Unlike a single-family home, multi-unit properties can help you provide continuous income from multiple tenants, helping you create financial sustainability. For example, even if a tenant vacates the property, you will have the reassurance that other units will keep providing you with financial support until you are matched with a new tenant.
Myth 4: Financing Multi-Unit Properties Is Impossible Without Perfect Credit
The belief that you must have perfect credit to create investment properties is a concern for many investors. Although it helps to have perfect credit, there are many ways for investors to finance themselves regardless of their credit situation.
In fact, it’s been heard that some banks have considered multi-unit properties as a low-risk opportunity due to their income potential and may provide you with favourable terms. Investors could also choose to look into private lenders and joint venture partnership opportunities as well.
Learn More: OakWood’s Financing Options
Myth 5: Multi-Unit Properties Aren’t Suitable for Urban Environments
Many still believe that multi-unit properties cannot co-exist within urban landscapes but this is further from the truth. It’s clearly not the case if you take a look at Ottawa’s real estate landscape. Additionally, our population is growing so rapidly that multi-unit developments are highly in demand for this current market where affordable housing is limited.
For its multi-unit investment properties and projects involving in-fill lots, OakWood has developed a reputation for successfully executing projects that integrate seamlessly with their surroundings…
Take a look at previous projects to get inspired for your investment today!
Are you ready to invest in a multi-unit investment property?
In summary, investing in a multi-unit residential property is more accessible and profitable than you might expect. This is especially more obvious when some of these common myths are disproven. Whether you’re a small or new investor worried about the nitty gritty of property management or concerned about financing, OakWood can help you navigate and simplify the process.
Contact OakWood today to discover how our design and build team can bring your vision to life!
Let’s make something beautiful together.