Investment Property Real Estate Expert in South Bay, Torrance, & Inglewood, CA
At the law offices of Mike Millea, we are committed to helping you make the most of your assets. With years of expertise in the fields of probate, trust, conservatorship, and investment real estate, we have the skills and the knowledge necessary to help you navigate the complex legal environment of real estate and make sound decisions in purchasing and selling real estate assets. Whether you’re interested in purchasing probate real estate, conservatorship real estate, or an investment property, we’ll guide you through the process and help secure the best deal possible for you.
What Is an Investment Property?
Put simply, investment property is any piece of property that the owner doesn’t reside in and uses exclusively for tenant rental. In general, real estate falls into three main classifications:
- Primary Residence
- Second Home
- Investment Property
While a primary residence and second home are both, to some degree, lived in by the owner of the property, an investment property is held only for monetary gain through appreciation of the property value or rent money from tenants. Within the category of investment properties, there are three major types:
- Residential: This applies to any residential home that’s purchased as an investment property. While one or more tenants or families may live in the home, the home itself doesn’t produce income for the tenants – it’s used as a living space.
- Commercial: This applies to investment properties that are potentially income producing for the tenants. Examples include office space, retail store front space, industrial facilities, and the like.
- Multifamily: Multifamily investment property denotes apartment complexes or other buildings where two or more tenants live in the building. These are often the most attainable form of investment property, as an investor could start with a duplex and work their way up, but once the property crosses the threshold of having five or more living units, the regulation gets tighter and more complicated.
Benefits of Holding Investment Property
The beauty of purchasing investment property is that the investor sees a return on investment on two fronts: on one hand, the market value of the property can increase, which generates a return. On the other, the investor receives money in the form of rent payment, which effectively acts as a reliable monthly return on investment. While the laws surrounding investment properties can get complex, they’re often an attractive investment in which to store money.
Contact Your Inglewood & Torrance, CA Investment Property Real Estate Experts
Purchasing investment property is often an excellent monetary decision, but obeying all applicable laws and securing a favorable deal requires an experienced, competent real estate attorney – and the offices of Mike Millea are here to help. We’ve helped countless clients make wise, profitable decisions on purchasing probate, trust, and investment real estate, and we would love to do the same for you. If you’d like to discuss your real estate options, feel free to call us at (310) 939-9356 or reach out to us at our contact page. We can’t wait to hear from you!