Advantages of Multi-Family Real Estate Investments

Based in Michigan, Craig Comer manages multiple franchise operations, from My Salon Suite to Mosquito Joe. With a focus on investments, Craig Comer has an extensive knowledge of Michigan property markets and seeks out multi-family real estate opportunities.

Centered on apartment buildings or complexes with more than a single rentable space, multi-family properties tend to be significantly more expensive than single-family homes. Despite often running into the millions of dollars, large residential complexes are typically relatively easy to finance. This has to do with the fact that banks and other real estate lenders are more inclined to approve loans for multi-family properties than for their single-family counterparts.

With multiple tenants in place, cash flow can be projected from month to month. Even if a family moves out and a unit remains empty for an extended period, the presence of other rent paying tenants means that cash flow will continue and not dry up completely. With single family rentals in a soft market, the departure of just one tenant can result in complete vacancy and an urgent scramble to replace rental income.

Managing 20 units within a multi-family complex is also more efficient than overseeing a portfolio of 20 residential homes. Shared utilities, infrastructure, and common areas means that a single maintenance undertaking can resolve a major issue for multiple tenants. Aspects of property management such as expense allocation, property taxes, and accounting also become much simpler when units occupy a single property. Another major advantage of multi-family investments is that there are more opportunities for fractional ownership and the pooling of investment resources. Such investment companies often do not require any hands-on property management at all in order to receive dividends from the property.

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Trout Fly Fishing in Michigan

Michigan entrepreneur Craig Comer owns multiple apartment units in Ohio and Michigan. He is also a franchisee of Mosquito Joe and My Salon Suite. Outside of work, Craig Comer enjoys spending time with his family and engaging in outdoor activities such as fly fishing.

With thousands of miles of cold water coastline inhabited by trout, Michigan is a nationally recognized fly fishing destination. Trout are at home in many lakes and cold water streams. They inhabit undercut banks and deep pools, and when the water is colder they swim close to the surface. The trout diet consists of small fish, terrestrials, and an assortment of flies.

For fly fishing, one popular trout species is the brown trout, which is found in streams on overcast or rainy days. Suggested fishing locations include Pere Marquette and Au Sable Rivers. Brook trout is another popular species found under log covers and in deep holes and numerous streams, and is abundant throughout northern Michigan. Rainbow trout is another favorite that inhabits various streams. Connecting with local fly shops close to a river can lead to good information on when and where to engage in fly fishing.

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