G.O.A.T Squad Spokesman
Logic Is Absent Wherever Hate Is Present
You can have a property manager/super that gets a free apartment along with a $200 a month salary which would cut into profit but not by much.
Apartment Buildings Are a Great Investmest Brehs
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Bumblebreh
Collecting honey and money
Breh getting a mortgage is even more complicated unless you already have mad capital.Any mistake and the computer/bank will refuse to borrow you money.
If you are the landlord you have to do mad logistics and be up to date with property and rental laws.You will also need insure your property and tenants can fukk your shyt up.
Jayou Ayen
All Star
You’re really painting the perfect scenario, it’s not anywhere near that easy.
Assuming you have the perfect tenants(which you won’t), repairs, taxes, and other fees you haven’t even considered will eat into all that profit. How much is a reliable property manager going to cost you? That person better damn near be Superman, or a lot of those headaches are going to be on you.
When I worked at a bank, my boss did this shyt on the side. I think he spent more office time on his rentals than his actual job. He was stressed as fukk.
My dad has two properties we only rent to relatives. They aren’t bad people or problematic, and that shyt is still difficult to deal with.
Imagine what it’ll be like when you’re dealing with 22 households of regular people.
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Assuming you have the perfect tenants(which you won’t), repairs, taxes, and other fees you haven’t even considered will eat into all that profit. How much is a reliable property manager going to cost you? That person better damn near be Superman, or a lot of those headaches are going to be on you.
When I worked at a bank, my boss did this shyt on the side. I think he spent more office time on his rentals than his actual job. He was stressed as fukk.
My dad has two properties we only rent to relatives. They aren’t bad people or problematic, and that shyt is still difficult to deal with.
Imagine what it’ll be like when you’re dealing with 22 households of regular people.
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Bumblebreh
Collecting honey and money
Or you can get with 4 brehs (or however many) and start a Real Estate Fund and go to a bank with that
4 brehs each putting in 5K is 20K... not too sizeable of a down payment, but decent for a bank to want to fund you with 4 people as collateral
You then switch shifts managing the property, and you each collect 3K a month. The loan payment on 400K with 20 down is probably around 3K a month, so if you round up and pay 4K a month, you and the brehs are each making 2K a month on just this flip
Do that a few times and you and your friends are now managing and owning 6-7 properties making money collecting rent.
that is not really a good investment
The best deals are the ones you cultivate yourself
It's best to find an investor or use seller financing if you don't want to use credit.
An easy way to get quality tenants is to throw a party for your best tenants
so you coerce their friends to move in your building.
If you don't want to use a property management company ... off an apartment rent free for an on site caretaker
It's best to find an investor or use seller financing if you don't want to use credit.
An easy way to get quality tenants is to throw a party for your best tenants
so you coerce their friends to move in your building.
If you don't want to use a property management company ... off an apartment rent free for an on site caretaker
Devil Plisken…CMS
Veteran
Rich Dad Poor Dad
G.O.A.T Squad Spokesman
Logic Is Absent Wherever Hate Is Present
Do you rent or own?
It's not a bad one.
If the numbers I mentioned work out (and
I'm not a banker) you'd recoup your initial investment back in a few months. If you were smart you could pay the complex off quickly (in about 5-6 years with the rental income) and then you and your friends are liquid a couple Gs a month.
You aren't making that kind of money in the stock market
Sounds good. My dad has 3 rental properties. It's not easy. But if you can handle to stress, youll make your money back eventually.
It’s not that easy moron
The overhead will be high as well, not including the original purchase
I thought u Asians knew math
The overhead will be high as well, not including the original purchase
I thought u Asians knew math
If you are not currently or never have been a home owner, please dont comment in this thread.
Bumblebreh
Collecting honey and money
currently rent
It's not a bad one.
If the numbers I mentioned work out (and
If you were smart you could pay the complex off quickly (in about 5-6 years with the rental income) and then you and your friends are liquid a couple Gs a month.
You aren't making that kind of money in the stock market
The numbers have to accurate or you are going to be make a mistake that will translate to a loss.Now the people who are buying up property or land in areas that are going to be the next gentrification hotspots in 5 - 10 years will see profit.There is no way in which you can pay off a property in short period with only 20k as a deposit.
As an investor you should be thinking about the long term appreciation rates so lets say we go ten years straight after the recession in which prices have dipped and that would have been the ideal time to buy up property.
J Money
No weapon formed against me shall prosper
Damn. Loads of negativity in this thread
Rapped @G.O.A.T Squad Spokesman this has got me thinking. I've always wanted to get into investment properties but never considered a block of apartments or rooms. I'm looking in certain areas and there's some good opportunities out there if you have the capital, some yield 10% or around. I'm years from being able to make a move like that but it's interesting to still research
Rapped @G.O.A.T Squad Spokesman this has got me thinking. I've always wanted to get into investment properties but never considered a block of apartments or rooms. I'm looking in certain areas and there's some good opportunities out there if you have the capital, some yield 10% or around. I'm years from being able to make a move like that but it's interesting to still research
