Press release -
Lance Falow of The Heathcote Group discusses owner occupied and non owner occupied real estate investments
History has shown owner-occupied real estate has produced tremendous long-term returns. In a few areas of the country the tremendous returns have even been short-term. In some cases homeowners have sold homes held 30 or 40 years, for 30 to 40 times their original cost. Other types of real estate investments, are the non-owner occupied rentals, and a combination of the owner-occupied/non owner-occupied rentals. The least expensive for maintenance cost is the owner-occupied real estate investment.
Non-owner occupied describes a residential property that's not the owner's primary or secondary residence. Usually, the term is applicable to a single-family home that's rented out. The description is important from a mortgage standpoint, because lenders perceive a non-owner occupied property mortgage as being riskier than an owner-occupied property mortgage.
"The combination of an owner-occupied/non owner-occupied residential real estate can be a viable consideration for those who feel some form of non owner-occupied rental real estate is a must, as an investment,"said Lance Falow, Manging Partner of The Heathcote Group. "You have a better probability of purchasing a property in a quality community, since your initial cost are lower than a non-owner occupied property."
A quality community brings a higher probability of a quality tenant. Attracting quality tenants is probably the most important aspect of residential non-owner occupied investments.
- lance falow
- real estate
The Heathcote Group
The Heathcote Group is a real estate investment firm with a concentration in conveyancing, foreclosure and title issues.The Heathcote Group lends money on commercial property and non-owner occupied residential property and also buys defaulted mortgages and distressed property, both in New York and Florida.