Buying an apartment complex

[Bookwormlux]

Dealing with tenants is very easy in an apartment if you carefully plan out what is expected of them and make them sign an undertaken to conduct themselves accordingly.

 

[Setho]

This has the potential to become a very good investment but you should be very careful about the people who are going to be your tenants or your target audience . There are some that do not have maintenance spirit and I'm not going to pay you your rent on time.

 

[Syldan]

I have not actually owned an apartment in the rural area but I believe that is a very good move for you and I believe you can make a better living from it if you continue very well.

I am yet to own an apartment complex but my grandfather owns one. He had some good tenants in the apartment but sometimes he did charged them to court for one reason or the other ranging from owing months of rent to damaged to properties.

Well, some of the grandfathers are very problematic sometimes there are issues that are not supposed to be a case but it will be depending on the response of the tenant.

 

[Sotherefore]

Well depending on where you are interested to locate your building ,all this would depends on you but I won't likely have the interest even buy an already made property. I would love to design it on my own.

 

[Setho]

The most important thing to me is the location as you will always want to have your apartment close to where you work or close to social amenities like water and heat . You will then consider other things like security and road.

 

[Syldan]

Personally I have not owned an apartment complex but it's really good and more profitable depending on how you handle your tenants and also the location of your complex. alot of people have been making good income from it.

 

[Sincerem]

Owning an apartment complex is a good investment if the apartment is well located in a developed region where the need for accomodations is on high demand, you can get tenants to fill of the living compartment cos that's where you make profit from.

 

[glitch]

They are expensive and a lot of work to maintain. If you do decide to go with one, start smaller. Get one that had 10 or fewer living spaces and see how it goes. You can always expand.

 

[tyrim88]

Buying a house mainly for commercial purposes is a very good and long term business. The profit don't come immediately but gradually. The main challenge there is the management of such building and the occupant tenant cause managing people is quite difficult.

That is what every real estate investor should always have at the back of his mind,because in the real estate sector,you do not just recoup all your money at once,it is a gradual process.