Most real estate investors have the goal of growing a sizeable portfolio of valuable properties. However, many find themselves stuck in a rut with just one or two properties under their belt. In the meantime, they’re spending so much time managing the investments they’re made, it can be hard to imagine having enough time and bandwidth to deal with much more.

What’s the solution? How can the invisible—yet solid—ceiling over a small portfolio be broken? The answer: investing in multifamily real estate. When you choose to buy multifamily property in Detroit, you can put yourself in a position to leap to the next level of real estate investment.

However, multifamily real estate is often avoided due to the perceived costs. Here are some reasons why taking the multifamily plunge may be worth it—as well as how to get around some of the obstacles.

In his book, The Importance of Living, author Lin Yutang made the following, airtight observation: “Those who are wise won't be busy, and those who are too busy can't be wise.” If you own multifamily rental property in Novi, you know how true this is. With all of the distractions floating around your work and home life, it’s easy to let 'business' replace 'wisdom.'

However, if you hire a Novi real estate management team, you can say goodbye to an overwhelming schedule and say hello to more stress-free income. However, rental property management is not for the faint of heart. It takes specific skills and experience—as well as razor-sharp business acumen. Here are some tips for how to hire the best management team for your multifamily real estate ventures in Novi.

Do you need an on-site property manager? The reality is that this type of property management professional should only be considered a “must” if you have a very big complex. That being said, this can be a difficult pill to swallow for many property owners.

Hiring someone to live on-site can provide a sense of security in the form of a second set of eyes and ears—a second-in-command that can represent your interests. While this is not far from the truth, on-site Detroit rental property management is often not worth the investment of money or the loss of potential rental space—especially when you can hire a property management company to do what an on-site manager could.

There are some important considerations to keep in mind, regardless of which way you end up going. Here are some of them.