Managing a multi-unit property is a great way to boost your investment returns through the real estate market in an intelligent and structured manner. Many investors engaged with the real estate space prioritize house hacking and other cost-effective measures to maintain the lifestyle that they’re used to while building a greater depth of wealth at the same time. A house hack is a process of purchasing a multi-unit property with the intention of moving into one of the units and renting out the remaining dwellings in the property. This is a great way to reduce your mortgage repayments while also enjoying the property that you want. Particularly, house-hacking strategies are quite useful within expensive property markets that might make purchasing a property that fits your needs impractical on its own.

With this and other cost-cutting measures in mind, building wealth through the use of multi-unit properties is simple and highly effective. Continue reading to learn more hacks that you need to know as an investor thinking of getting into the multi-unit real estate space.

The house hack is the perfect way to boost your buying power by an order of magnitude.

Homeowners should be in the market to find ways to boost their purchasing power. Reducing the toll that new budget items take on your finances while expanding the value of each dollar you earn is crucial for great money management and planning. With a house-hacking strategy, this is taken to the next level. By purchasing a space that offers multiple-family units, you can live in one home while renting the other space out to minimize the overall expense that the mortgage loan adds to your ongoing finances. A duplex is often the pinnacle example of this approach. Two apartment or home units in one facility means that you can offer the second one on the rental market and cut out a huge chunk of the repayments that you are faced with simply by repurposing the rental income that you do earn for your own expense management.

 In larger investment opportunities, you might consider buying a property that sports 15, 20, or even upwards of 100 apartment units in order to live in a customized space and collect critical rent checks that overwhelmingly maintain the outgoing expense of the property you’ve chosen to reside in. Of course, homeowners who act as landlords in this regard have to manage the costs associated with owning the space that another person calls home as well.

 Managing the property with grace and technological installations is the best way to ensure stability.

Once you’ve invested in multi-unit real estate, the next step is to ensure a great management routine as a landlord for the best stability over the long term. These kinds of investments are great for those who want to expand their purchasing power, but that buying capability will evaporate quickly if you can’t keep tenants in the building.

With the help of technological upgrades to the facility like a Swiftlane video intercom system, you can provide your residents with the best in security and ease-of-access installations that make for a great relationship across the board. A video intercom integration is simple to install, and with fobs or key cards and a mobile app designed by the Swiftlane team, entry for those who are meant to have access is streamlined and provides a unique peace of mind that is hard to find in other access control integrations. Installing a digital access control console means that you won’t have to run expensive or time-consuming wiring throughout the building either. Simply adding the control panel and hooking it into your existing network is simple and provides immediate functionality for those living at the property.

 Consider these approaches to multi-unit management and house-hacking strategies for the best possible outcome.