New Property Investor, Learn These Top 3 Types of Real Estate before Jumping to the Market

If you are new to property investment, learning about the types of real estate is a must. This is because different real estate investment type will have different potential pitfalls and benefits. As a result, you don’t have other options than to study them well before you begin to jump to the market.
Top Three Real Estate Types that You Need to Know

Then, what are those common real estate property types that we need to know? If you have an intention to develop, own or flip real estate, here are some categories of real estate that you better understand.

#1 Vacant Land

Ranch and farm specialist have been found to be quite successful in the business. Even though the frequency of the demand is less than the other types, it is still a good choice for investment since land prices as well as values are increasing over the time.

When you decide to invest on vacant land, it is significant for you to understand the particular buying motivations and requirements of the prospective sellers and buyers. In general, the property price and size is quite large with equivalent commission.

#2 Residential Properties

There is no doubt that residential property is so far the most popular one among the other types of real estate. It is popular with both experienced and new agents. They commonly focus in types of homes such as condominium, new construction, duplex, separate home and rental property.

Whatever they specialize in, most agents usually start in this niche and then remain in it until they are able to do well. There are several agents that only take the market of luxury properties while some others take the market of less expensive or entry-level home.

There is a strategy that you can do when jumping to residential property investment: you better do what holds your interest or in another word what you like. This is because you will be more likely to deliver proper and better customer service when you are excited about the niche.

#3 Commercial Properties

When it comes to commercial property, it can be an existing business building or an empty land designed for commercial use. This kind of property requires much more complex accounting method such as income potential, cash flow of the owner, historical revenue and others.

If you don’t have wide experience of business valuation, it is better for you to enter the market of commercial property carefully. Perhaps, you can jump into this market once you have extensive experience on residential or land property markets since it is such more complex business. 

Final Thoughts

Now, you have learned the most common types of real estate. It can be seen that the three of them have different characteristics that you need to understand more. Therefore, whether you intent on acquiring, developing or flipping one of those real estate types, it’s better for you to learn and understand more about each of them and select the one that you are more confident in. 

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