Apartment Buildings Are a Great Investmest Brehs

[sayyestothis]

That jawn a dump. Money pit.

Something profitable wouldnt be selling that low.

 

[G.O.A.T Squad Spokesman]

High debt/intense capital investment upfront, outside factors will dictate your revenue (jobs, schools, other developers, etc.) and you still have maintenance and the BS of dealing with that many people in general. No thanks. Much rather put that kind of money in the Vanguard 500 and go to sleep soundly.

 

[CrimsonTider]

You'll never have to worry about being broke as long as you got people paying you rent every month from multiple residences. I'm about to get into it real soon. Look at what 400,000 can get you in Birmingham, I know it's the hood but it's still multiple checks coming in monthly.


1440 21st St N, Birmingham, AL, 35234 - Apartments Property For Sale on LoopNet.com

That’s the Hood hood. Nobody consistently paying rent that’s staying there

GOTTA BE ABLE TO AFFORD TO BORROW 400K THOUGH.

After that you need working capital.

 

[G.O.A.T Squad Spokesman]

That’s the Hood hood. Nobody consistently paying rent that’s staying there


After that you need working capital.

I don't know about your hood but when I lived in the hood there was always somebody moving in an apartment when someone moved out. That's why you get first and last months rent upfront.

 

[CrimsonTider]

I don't know about your hood but when I lived in the hood there was always somebody moving in an apartment when someone moved out. That's why you get first and last months rent upfront.

A complex like that will never have full occupancy and it will not have a waiting list of people looking to move in

Ain’t nobody trying to stay in Norwood. There’s better hoods and low income spots all over the city

 

[G.O.A.T Squad Spokesman]

A complex like that will never have full occupancy and it will not have a waiting list of people looking to move in

Ain’t nobody trying to stay in Norwood. There’s better hoods and low income spots all over the city

The worst area in east Oakland was the 65th village and that shyt always had residents moving in. You live where you can afford.

 

[CrimsonTider]

The worst area in east Oakland was the 65th village and that shyt always had residents moving in. You live where you can afford.

Birmingham ain’t Oakland

You plan on Malik good rent $300 a month?

 

[blaccbeard]

If you have family you trust you can move some of them in.

No matter how much you trust/love your family all it takes is that one time where they cant come up with the rent and you gotta eat it. Then if it keeps happening you're fukked because you can't evict family, and if you do you're an a$$hole.

 

[Thingsfallapart]

Yea that's what I'm saying . My dad converted our basement (you could call it that) to an apartment when he was jobless for a for a period and it was the best thing he could've done. Once you get a tenant who's quiet and pays on time it's the perfect situation. If something needs fixing like the shower, or an appliance he just does it himself. All this property management talk is foreign to me. nikkas just advertise their property on social media and the newspaper if you're old​

A basement apartment is not the same as a 22 unit apartment building like in the Op.

You’ll definitely need help with something that’s large.

 

[TrebleMan]

One of the best investments you could make imo.

Live in one and have everybody else pay your rent.

The key though is you better be comfortable living where that multi is though, at least for a few years.

Also really helps to know how to do the work yourself (but leave the highly critical shyt to professionals).

 

[MikelArteta]

ol fiona in shameless azz nukka

 

[Kyle C. Barker]

I didn't say the entire $145,200 would be profit. So if you include maintenance and property tax how much do you think you'll net from that $145,200? I'm sure it's still enough to make you happy while sitting on your ass and going to the mailbox every month.

I think you might need to hire some people to take care of a 22 unit complex

 

[EBK String]

most coli nikkas struggling to pay Bill's let alone purchasing a 400,000 building

 

[Thingsfallapart]

Most homes out here in the Bay cost more than that and these banks are giving nurses loans for $600,000 homes. If they know you're purchasing rental property they're more likely to give you the loan because they can see the return more likely.

Nah. Those loans are harder to get. You need more of a down payment and the bank may require you to have years of proprty management history in order to use the possible rental income to qualify.

 

[G.O.A.T Squad Spokesman]

Nah. Those loans are harder to get. You need more of a down payment and the bank may require you to have years of proprty management history in order to use the possible rental income to qualify.

My aunt does it, I guess the banks out here are different.