www.privateairny.com Private Air | Fall 2023
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FINANCE
I
nvesting in multifamily real estate can
be an excellent way to diversify your
investment portfolio and generate
passive income. As the name implies,
multifamily properties are properties
that have multiple housing units, either
in one build or several within a complex.
For example, duplexes, townhomes,
condominiums, and apartments are all
considered to be multifamily properties in
most states.
When it comes to investing in multifamily
properties, many investors wonder whether
they should focus on newer or older
buildings. While there are advantages and
disadvantages to both options, buying
newer buildings is generally the better
choice.
One of the most significant advantages of
investing in newer multifamily buildings
is that they are less likely to need costly
repairs, whereas older buildings may require
significant renovations to address outdated
plumbing, electrical systems, roofing, and
other issues. ese repairs can be expensive
and time-consuming, and they can cut into
your profits.
Newer buildings are also often built
with modern materials and construction
techniques, making them more durable
and less likely to need major repairs, which
offers their infrastructure greater stability.
ey may also be more energy-efficient,
which can save you money on utilities and
maintenance costs over time.
