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being a landlord/ownership

Anonymous ID:lemMOPnd Sat 24 Oct 2015 22:47:06 No.936312 View Reply Report Delete

Would owning one 3 family apartment building be a good investment. Just for the extra income of course..I mean after paying mortgage payments, and putting aside for costly repairs it really is a good extra income right?
whatchuthink

Anonymous

Anonymous ID:vMXJEPjH Sat 24 Oct 2015 22:50:14 No.936313 Report Delete

Quoted By: >>936319

>>936312
>no numbers provided
it could be good or terrible, what kind of advice do you expect?

Anonymous

Anonymous ID:lemMOPnd Sat 24 Oct 2015 22:54:29 No.936318 Report Delete

Quoted By:

It could be it is a decent amount of work so dont expect to just collect. You are going to have to go 3-5 times a week for small dumb stuff, lost keys, snow removal, small repairs, changing lobby lightbulbs etc. All in all if you have another job though..it really is the easier of the second jobs...

Anonymous

Anonymous ID:P7GgDXnS Sat 24 Oct 2015 22:55:10 No.936319 Report Delete

Quoted By:

>>936313
This.

How much does it cost to buy the property? How much will it cost to rehabilitate it? Are you hiring a property manager or not? Are you planning on doing some level of maintenance yourself or not?

The big ones, after applying conservative estimates (post rehab costs), can the property cashflow after the 50% rule is applied? What's the cash on cash value? If CoC is low, why not just invest in the S&meme500?

Anonymous

Anonymous ID:k4+pLazr Sun 25 Oct 2015 00:20:32 No.936371 Report Delete

Quoted By: >>936376

>>936312
People recommend biggerpockets for real estate stuff. I haven't given it enough time myself though

Anonymous

Anonymous ID:P7GgDXnS Sun 25 Oct 2015 00:31:09 No.936376 Report Delete

Quoted By:

>>936371
BP is pretty decent, but it suffers from the same problems as any sort of dedicated open avenue for information. Serious biases in some cases, and dissenting opinions get shouted down hard.

Anonymous

Anonymous ID:Z53rhu2+ Sun 25 Oct 2015 01:07:49 No.936398 Report Delete

Quoted By: >>936430

>>936312
Rentseeking is the most dickish way to make a buck. Just makes it harder for your grandkids to get theirs. On the other hand if the opportunity is there someone's probably going to capitalize on it.

Anonymous

Anonymous ID:P7GgDXnS Sun 25 Oct 2015 01:45:16 No.936430 Report Delete

Quoted By:

>>936398
U w0t?

Tenants pay for the property for you, giving you equity in the process, and you can often get very good cash on cash returns.

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