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apt vs. house
(by RonM9 [il])
Jan 13, 2004 10:16 AM
RE:
apt vs. house
(by mike [mo])
Jan 13, 2004 10:45 AM
RE:
apt vs. house
(by Eric [DC])
Jan 13, 2004 10:49 AM
RE:
apt vs. house
(by bm [or])
Jan 13, 2004 11:32 AM
RE:
apt vs. house
(by Jim [WI])
Jan 13, 2004 12:49 PM
RE:
apt vs. house
(by Dan [MA])
Jan 13, 2004 2:34 PM
RE:
apt vs. house
(by Joe-MN [MN])
Jan 13, 2004 8:57 PM
RE:
apt vs. house
(by RonM9 [IL])
Jan 14, 2004 4:31 AM
RE:
apt vs. house
(by Les [Ab])
Jan 15, 2004 12:39 AM
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Can I get your opinion on owning a small (4 or 8 unit) apartment versus a single family residence to rent. I rent out the home but am looking at getting into apartments. I was wondering if it is easier, harder, generally any opinions you have about this. Do apartments appreciate like houses? thank you for your input --216.91.36.42 |
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dissertations can be written on the subject. In general / what I have experienced Houses will appreciate faster Apartments will cash flow better Tenants in house will take better care of where they live and will do all yardwork and snow shoveling Tenants in apt request that the owner do everything for them. Lots of hand holding and mgt time req'ed. Some times I wonder how they use the restroom on their own? Easier to rent an apt than house 1 unit vacant in an apartment does not hurt too bad Easier to sell a house or lease option a house Not as many buyers for larger multi's enough for now - others will add the pros and cons --130.76.96.14 |
| I have to agree with the assessent above. I ama new investor, one 3-unit, in a low appreciation area. I've been looking locally because the appreciation rate in DC is phenomenal. So I've decided to continue looking for cash flow elsewhere but buy one or two properties for appreciaiton locally. Diversification of risk if nothing else. --12.20.148.18 |
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Not to mention the financing is very expensive... 5 or more units is considered commercial and there's a different set of rules to play by. Unless you get seller financing. I'm looking forward to selling ours (17 units), finding good managers is difficult. --134.134.136.3 |
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I have three houses and all are considered "commericial" property, not just apartment buildings. I have business loans on all my properties... --12.33.218.254 |
| As soon as you move from singles to a multi unit building, you have a whole new myriad of issues to deal with. They range from figuring out who keeps stealing the lightbulbs in the hallway to refereeing grown adults who are acting like fighting kids in a playground. Before you jump to 8 units, I suggest you learn the ropes on a 2 or 3 unit building. --24.128.227.165 |
| House vs Apts They are completely two different animals. Apts can be less risky because of the vacancy factor. Financing is different because usually you have to qualify to buy a house. To buy an apt bldg the bldg has to support and qualify for the loan and your integrity is your contribution to the deal. Others will cover other points. Joe-MN --66.53.80.159 |
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4 unit and under do not require special financing correct, it would be a smiliar loan as a single unit? Would a 4 unit require additional loan qualifications, like paperwork to support the income? Is there anything there I need to be aware of? --216.91.36.42 |
| House = real estate rich cash poor. Apartment building = cash flow to buy more. --142.59.154.151 |