Real estate is the property, land, buildings, air rights above the land and underground rights below the land.
Real estate can be a very lucrative investment, but it requires a massive time commitment, patience, and most importantly, cash.
Types of Real Estate
There are several types of real estate, each of which has a specific purpose and value. The major departments are:
1. Residential Real Estate
These include both new construction and resale homes. The most common types are single family homes. There are also condominiums, coops, townhouses, duplexes, triple-deckers, quadplexes, high-value homes and vacation homes.
Land is the main line for every kind of property. Land usually refers to undeveloped property and vacant land. Developers acquire land and combine it with other properties (called assemblies) and reassemble it so they can increase density and increase property costs.
Retail properties include shopping malls, strip malls and other retail outlets. In some cases, the landlord receives a base rent through the tenant store as well as a percentage of the sales generated to encourage him to keep the country in advanced condition.
Commercial property for commercial use or any existing business building or buildings may be in vacant land. Commercial property valuation requires a sophisticated accounting method that includes the possibility of real estate income, historical income, cash flows removed, and more.