Multi-family housing is an increasingly popular choice for real estate investors. This can include apartments, condos, student housing, mixed use developments, duplexes, triplexes, and more. Accordingly, the investor landscape for this form of real estate is as diverse as the investment choices available.
“House-Hacking”
House-hacking is a phrase that was coined on TikTok. For those of us who don’t fall into the Gen Z category of TikTok users, I’ll explain. House-hacking simply refers to owner-occupied multi-family housing.
According to an article by Florida Realtors, the monthly principal and interest payment on a single-family home has more than doubled in the past three years. Due to this, individuals are becoming more creative in their real estate investments. For that reason, there is great appeal in owner-occupied real estate that generates rental income to offset monthly mortgage costs or even have it fully paid. Furthermore, Florida Realtors gives five tips for success when pursuing owner-occupied multi-family housing. Those tips include: know your long-term goal, shop for a mortgage, budget for repairs and maintenance, understand your legal obligations and set good boundaries.
For those intrigued by the potential financial freedom through “house-hacking,” Business Insider features inspiring stories of individuals who have used this method to build wealth.
Multi-Family Housing Growth
Multi-family housing is expected to expand this year. The 2024 Multifamily Outlook by Freddie Mac “indicates an elevated multifamily supply pipeline, with peak completions predicted in 2024.” The National Association of Realtors even predicts that empty shopping centers will be the next site for more multi-family housing.
Fluid Realty
Are you’re interested in investing in multi-family housing? Fluid Realty is here to help you achieve your real estate goals.
The Fluid Realty Team is Jacksonville’s top real estate group and local boutique brokerage. We provide a full-service experience with the best realtors in the area. Our expertise includes luxury beach real estate within the four Beaches of Jacksonville, FL: Atlantic Beach, Neptune Beach, Jacksonville Beach, and Ponte Vedra Beach. Reach out to us today.
