Buying an apartment complex

[Kaffyfolla]

• Buying apartment is a good especially for commercial purposes, but if it domestic purposes, it is good to build home yourself

Post automatically merged: Oct 19, 2021

• Buying apartment is a good especially for commercial purposes, but if it domestic purposes, it is good to build home yourself

Post automatically merged: Oct 19, 2021

• Buying apartment is a good especially for commercial purposes, but if it domestic purposes, it is good to build home yourself

 

[Partisan]

Buying apartment is really nice but I need to check how long the house has been and also check the toiletries and the kitchens to get whether the equipment are complete because most of the time you have issues in this area and also you need to check how the layout and everything look like

 

[Heatman]

I'm considering purchasing a local apartment complex that has a lot of apartments with paying tenants. I feel like this would be a good move for me. Has anyone here ever owned an apartment complex? How was the upkeep and dealing with all the tenants?

Purchasing an apartment complex is a very good real estate business because it offers you the opportunity to be getting rent from your tenants on monthly or yearly basis.

 

[kayode10]

You made a good move as you purchase apartment complex as part of your real estate properties. This is one of the ways to ensure you make passive income every time.

 

[Ellamma]

It's a great idea, but if you must invest in such, you have to find out from the former owner and the tenants more about the house. Appoint a care taker among the tenants, he'll help you manage the compound whenever you're not around

 

[Kingstone]

It is a good source of generating money but I will not fully subscribe to buying an apartment where I can actually build one for myself. Well, this is not happening in developed areas as people can buy Mansions and lease them out. In Nigeria, you can build and rent.

 

[Mayox25]

That is a good investment if you are able to pull it through. But it is advisable you have a facility manager for it since it is large who will see to it that the building is well maintained and used by the the occupiers.

 

[Toyoabasi]

My mom has one; a complex consisting several self contained apartments.
She built it from scratch and now lodges tenants.
She has a lawyer who is in charge of all legal and financial dealings with the tenants.

I'm considering purchasing a local apartment complex that has a lot of apartments with paying tenants. I feel like this would be a good move for me. Has anyone here ever owned an apartment complex? How was the upkeep and dealing with all the tenants?

 

[tyrim88]

I'm considering purchasing a local apartment complex that has a lot of apartments with paying tenants. I feel like this would be a good move for me. Has anyone here ever owned an apartment complex? How was the upkeep and dealing with all the tenants?

I think it depends on the purpose of the apartment usage,if you still want to make it a resendential building for tennants to be paying rentage ,that would be ok,but if you decide to make it into a lease for some period by some organisation of outfit,it will still be ok.

 

[YERUS]

I'm considering purchasing a local apartment complex that has a lot of apartments with paying tenants. I feel like this would be a good move for me. Has anyone here ever owned an apartment complex? How was the upkeep and dealing with all the tenants?

My uncle has an apartment complex he rents out to tenants, he built it himself from scratch.
So far, it has not been easy keeping up with the tenants because they find it hard to pay their rents on time.

 

[Ub40]

Even though I don't own any apartment at the moment, but I can confirm that renting of houses is a very lucrative business especially the section you have stated above. So, if you have the ability, go ahead and you will definitely make it. I wish you all the best.

 

[HayKay]

I think the success of your ownership would depend majorly on how you handle the tenants, the facilities you put in place and how much you fix as tenancy prices and all that.
I'll advise you put a caretaker that's vast in such properties management to help you oversee affairs.

 

[Immilash]

It will he a great idea if you have enough money I suggest you just go ahead because theirs no need of wasting time on something like this just move on.

 

[Justin]

I live in a hostel and one day I would like to buy my own apartment. Generally speaking, an apartment in my country costs at least $100,000

 

[Nomad]

I have no desire to buy an apartment, instead I would like to buy a home of my own. When I buy a home, I will not only own the house, but also the land where it is built.

 

[greenie]

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.

 

[Stnicholaz]

Sounds like a great idea, in terms of investment. I think you need to understand and prepare your mind as not all the tenants will be tolerable. Overall, it is a great investment.

It is definitely a great investment. I'm looking forward to own a one in future. I will grab the opportunity with both hands anytime I have the funds.

 

[Setho]

One of the problems that you are going to encounter with building an apartment is definitely with the tenant. This is why I advise that you should always sign an agreement on how the rent is going to be paid as at when due.

 

[Alexandoy]

If you can afford to buy an apartment complex then that means you have the money for that. My take on the issue is to buy land and build the apartment so that you can do your own design. It is not good to buy an apartment if it is old because of the underlying issues of repairs and lack of maintenance.

 

[kayode10]

To be very honest with you you are making a good decision. Just make sure that the property you want to buy is closer to the commercial area. This will help to increase the value of the property and get it rented out fast.