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The Water Cooler
General Discussion
Should I buy this apartment investment property?
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<blockquote data-quote="Hawkman" data-source="post: 2906983" data-attributes="member: 29933"><p>Honest advice:</p><p></p><p>Based on the info you've given, I wouldn't invest in this unless you plan on dedicating yourself to being a part-time (if not full-time) landlord (~20 hours/week working on the property, monitoring the local housing market, etc. etc.) or have significant experience in real estate already. Real estate management IS NOT easy money contrary to popular belief. Oftentimes even a smallish property (like the one you have mentioned) can be a full-time job keeping everyone happy and ensuring your tenants pay up. The fact that the price of this apartment is a stretch for you financially, puts me further toward my opinion to not buy. Personally I wouldn't even consider investing in a property until I could pay for it with cash and could do so without putting my finances in jeopardy. </p><p></p><p>Good luck whatever your decision may be!</p></blockquote><p></p>
[QUOTE="Hawkman, post: 2906983, member: 29933"] Honest advice: Based on the info you've given, I wouldn't invest in this unless you plan on dedicating yourself to being a part-time (if not full-time) landlord (~20 hours/week working on the property, monitoring the local housing market, etc. etc.) or have significant experience in real estate already. Real estate management IS NOT easy money contrary to popular belief. Oftentimes even a smallish property (like the one you have mentioned) can be a full-time job keeping everyone happy and ensuring your tenants pay up. The fact that the price of this apartment is a stretch for you financially, puts me further toward my opinion to not buy. Personally I wouldn't even consider investing in a property until I could pay for it with cash and could do so without putting my finances in jeopardy. Good luck whatever your decision may be! [/QUOTE]
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