Small Apartment Complex

[Jason Ianacone]

I am looking at diving into diversifying my income. There is a 9 unit apartment complex that is coming open for purchase. It was built in 1900 and the owner is going to sell for $133,000. When fully rented, it makes $3,095/mo. There is also an empty lot included next door so I could build a shed or storage units there. I live in a small town so I will have to manage myself. What should I be looking into as far as amount of time being invested in this?

[Ronan Donnelly]

@Jason Ianacone, you need to look at the expense side of the equation both OpEx and CapEx to understand if the numbers make sense.

Try to source these figures from multiple sources and don’t just rely on what the owner tells you. Good luck!