All Forum Posts by: Harold Felder

@William Zhou.  I am also an investor in Charlotte.  I too started out owning single family homes and last year bought my first multi-family unit (4-plex).  I am finding myself in the same situation as you.  Small apartment deals seem to be rare and often not worth near the asking price.  Although I can't be of much help, and glad you asked the question.  Maybe we will both learn something :-).

Thanks @Curtis Bidwell,

I am going to have my real estate agent check out the area while I take a look at the financials to see if it is worth a closer look.

Thanks @Tom Lafferty, 

I think I will inquire further, just to see what the numbers look like. 

Thanks @Douglas Snook, 

I think I will reach out to my real estate agent and get her feel for what the market in my town is for 1 bedroom/ 1 baths.

Thanks @Scott C. for a different perspective.  Since I am new to the multifamily space I am not sure I know enough about how to analyze my particular market to make a wise decision.

Thanks @Joel Owens,

Just looking at the outside condition of the property and the neighborhood, I don't think it would be worth the effort to convert to 2 bedrooms.

@Crystal H.

Thanks. I've only seen it from the outside but it doesn't look like it would be easy to convert to 2 bedrooms.  I have not yet asked for the financials, but based on the comments here, I am not really sure I am interested enough to pursue much further.

Hello BP Community,

I am a new investor looking to become more active in the multifamily space.  I recently purchased a fourplex and I am looking to move into something with more units.

I recently saw a 20+ unit apartment building.  All the units are 1 bedroom/1 bath.  What are the pros and cons of owning an apartment building with only 1 bedroom apartments?

I just read the entire thread from beginning to end and it was like reading a novel. The chronological details that you give fill in some of the gaps that I have regarding what should happen and when.  Your commitment is impressive.  I will continue to read until the end.

Thanks @Jeff Morelock. I am working with my agent.