Quick Fact for anyone interested in investing & co-owning an apartment
Quick Fact for anyone interested in investing and co-owning an apartment (this can be done passively - turnkey style)
Apartments are relatively easy to get financing for. HUD, Freddie, Fannie, & Banks like the security of a solid multifamily asset. They're willing to lend millions to a qualified team, that has identified the right asset, and has prepared the right business plan. They wouldn't lend you money to purchase stock in their own company but for multifamily... all day long - all day long.
People in general trust real estate, and more so once they understand multifamily as an investment, so it is easier to raise money from equity partners/co-owners when compared to other business opportunities.
Multiple doors under 1 roof is much less risky than a single family rental property. Having multiple units helps to mitigate the risk of unpaid rent & vacancy thus strengthening the investment. The more doors the merrier!
To Your Wealth!