Does anyone have any experience owning an apartment complex? I am looking to invest into apartments and would appreciate any feedback or advice. My wife managed a large complex for several years before getting out of the business 5 years ago so we have some idea of what to expect.
Our down payment can be anywhere from $50k to $400k. If we put down a $100k down payment, what is the max we should purchase to make it cash flow and not stress us out? My guess if we put down $100k, we can't buy anything over $500k??? What is the horizon on most apartment loans, 15 years?
How much can I expect to spend on an attorney setting up an LLC and working with the accountant? Is that a few thousand? Is the realtor free since I am the buyer?
Has your apartment building/complex appreciated over the years? Is the current market more of a seller's market or buyers markets?
Any advice would be appreciated.
Our down payment can be anywhere from $50k to $400k. If we put down a $100k down payment, what is the max we should purchase to make it cash flow and not stress us out? My guess if we put down $100k, we can't buy anything over $500k??? What is the horizon on most apartment loans, 15 years?
How much can I expect to spend on an attorney setting up an LLC and working with the accountant? Is that a few thousand? Is the realtor free since I am the buyer?
Has your apartment building/complex appreciated over the years? Is the current market more of a seller's market or buyers markets?
Any advice would be appreciated.
