Becoming an apartment building owner
Just attended a Dave Lindahl info session on buying multi-family units in emerging markets. The subject has my attention. What suggestions do you have for me for going deeper on the matter? Apartments might be right for me and I want to know more about what it’ll require of me. Please point me in a direction. Thank you!
Hi Air Rian:
I’m glad to hear you learned a lot at the seminar. Investing in an apartment building can be a lucrative investment, however, there can be a learning curve. It can be time-consuming if you manage the building yourself, so it’s generally recommended to hire a property management company. You need to know what to charge for rent to attract tenants, but to also be able to cover all of your carrying costs and still be cash flow positive. Here’s an article on buying an apartment building and another one on financing an apartment building.
All the best,