Only serious answers please, Are there a Apartment owners that can give my wife and I some advice on owning?

realestate is really low right now, come up with 20% down and pay it off as fast as possible. don't get an old house that's sagging, make sure everything's strait and level and insulated. My wife and I decided to hold off on a house, we currently rent a 150 year old funeral home, 1050 sq feet, I have a 2200 sq ft heater and it won't even get it up to 70. insulation. get a pellet stove, insulate windows, blow insulation in. you can get a home improvement lone for that. get a pellet stove, talk to your hardware store about insulation, flourecent lights, no tv, waste of time, read books, good books, try it. start with leading the consumer rebellian by orrin woodward and chriss brady. they'll recomend books from there and you get smarter at the same time. whow, off base a little bit. but yeah, pay a little more up front for a better house all round. good luckOnly serious answers please, Are there a Apartment owners that can give my wife and I some advice on owning?
Va, is still good for rentals, I would not spend that much for apartment building. unless the rentals are at lease $1000 mth or more, spend the money on several residential homes keeping rents between $1200-$1800 mth get a good agent that will scout out the best areas for rentals, not just where they want to sell you something. I would call property managers and ask them what are best areas, and Do Not by site un seen go and see property before you by. ask agent to see rentals on the market now as well as the ones that have leased within the past 6 months. alot of agent with rentals will sell you something and then tell you that market is good and put property on market and it just sits.Only serious answers please, Are there a Apartment owners that can give my wife and I some advice on owning?
There are great programs in place for first time owners. Go see a real estate agent. My only other advise is DO IT! There is no time like now. Just pull the trigger and stop giving your money to someone else.
I own rental property... whats the question?
Here is some advice so you dont lose your shirt. Your gross rents need to be DOUBLE whatever your P%26amp;I is. Maybe you can get away with P%26amp;I thats 60% of your gross rents but no more than that or you are ASKING for trouble. Too many people i have seen that look at the financials and say...Hmm Well it looks like the gross rents are enough to cover the mortgage...so it looks like a good deal...Then a tenent from hell comes along, doesnt pay rent for 2 or 3 months, then trashes the apartment by putting holes in the walls/doors and stealing the fridge because YOU kicked him out for not paying! So if your P%26amp;I is 50 to 60% of your gross rents you will reduce alot of stress on your side when you get those tenents because you have plenty of money to pay the damage and can just mark it off as a cost of doing business instead of an attack against you and your family which will get you emotionally involved and you dont want that. Also...dont trust anything your realtor says about it being a good buy. Everyone trys to sell their apartments to the new guy on the block that doesnt know what he's doing. Once they figure out you know about the 50 to 60% of gross rents rule, they will probably just try to get you to put more down.
Don't know what your question is?





Do you want to know if investing in an apartment is a good idea?





Really depends on your situation. What are you bills, what is you income source? What do you hope to gain?





Do you want to be a landlord (most people do not)?





DO you have a good rental contract? Are you studied up on landlord tenant law? DO you want to be?





What is the price of the property? Condition?





Why does the selling party want to sell? What are the current contracts? Occupancy?





What do you do if you discover that you don't want to own?
Sure I can.


What are your questions?


We all had to start somewhere!
IDK about where you live but in Mass, we have a program that its called ';First time homebuyers'; they usually look over your finances and you credit report to see where you need help and to see what kind of loan you may qualify for. Its like a two day class in which they teach you everything you need to know before buying a property. Sometimes they even give you money toward your downpayment and closing fees. Basically, have your credit clean and have at least 20% of the downpayment. Always look around for any information relating to the property you want to buy. Make sure there are no taxes owed or any liens on the property.

wrinkle eye cream