I’m a real estate investing writer and analyst at Fit Small Business and also an investor myself. I recommend doing your due diligence, researching the neighborhood, finding out fair market value rents, get an inspection on the apartment building and find out about any code violations. Also, take a close look at the rent roll and see how long the tenants have lived there, what they’re paying, their payment history and how much security deposits each of them left. Remember to ask for average common area utility bills too so you know what to expect. Also, check out loopnet.com for apartment buildings.
All the best,
- This reply was modified 8 months, 4 weeks ago by Allison Bethell. Reason: added a suggestion