Moving in to apartment complex deals
I have bought, held, and sold duplexes here in NC. I am looking to grow in to larger apartment complexes in NC and possibly other states. What areas have people had to best experience ? What are the main things to watch out when you get in to larger projects?
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Todd Dexheimer
#2 Multi-Family and Apartment Investing Contributor
#2 Multi-Family and Apartment Investing Contributor
- Rental Property Investor
- St. Paul, MN
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Todd Dexheimer#2 Multi-Family and Apartment Investing Contributor
#2 Multi-Family and Apartment Investing Contributor
- Rental Property Investor
- St. Paul, MN
1. Over-paying
2. Buying a value add because the broker said it was
3. Buying in bad areas because it's cheap
4. Not underwriting closing cost and inspection fees/due diligence fees properly
5. Being under capitalized. Have 9-12 months of P&I payments in reserves up front.
6. Thinking the money will come if you find a good deal