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The Water Cooler
General Discussion
Should I buy this apartment investment property?
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<blockquote data-quote="_CY_" data-source="post: 2907399" data-attributes="member: 7629"><p>wrong answer if you are age 25 like OP .. he is just getting started and should keep ALL possible cash reserves. use absolutely the minimum amount of capital necessary to get into property. again .. stay away from small apartments .. go buy 5 house instead .. you will thank me later.</p><p></p><p>so far no one has even remotely suggested the best possible use of hard won capital. </p><p></p><p>think long haul .. rental conditions can and will change .. just so happens in OKC and Tulsa, residential rentals due to almost no new units coming into marketplace for years and years, combined with record property defaults (new renters) has driven vacancy ratios close to zero. only recently has new construction started and it's slowly hitting the marketplace.</p><p></p><p>there's been times where we've had up to 50% vacancy .. believe me it's not fun covering a huge nut every month when half your units are empty. over the long haul .. it does NOT always go exactly to plan. when you run out of cash to cover bills .. game over!</p><p></p><p>on the positive side .. if you do things responsibly .. you will eventually pay off all your properties and become debt free with a nice income stream .. retire at say age 45 if you desire.</p></blockquote><p></p>
[QUOTE="_CY_, post: 2907399, member: 7629"] wrong answer if you are age 25 like OP .. he is just getting started and should keep ALL possible cash reserves. use absolutely the minimum amount of capital necessary to get into property. again .. stay away from small apartments .. go buy 5 house instead .. you will thank me later. so far no one has even remotely suggested the best possible use of hard won capital. think long haul .. rental conditions can and will change .. just so happens in OKC and Tulsa, residential rentals due to almost no new units coming into marketplace for years and years, combined with record property defaults (new renters) has driven vacancy ratios close to zero. only recently has new construction started and it's slowly hitting the marketplace. there's been times where we've had up to 50% vacancy .. believe me it's not fun covering a huge nut every month when half your units are empty. over the long haul .. it does NOT always go exactly to plan. when you run out of cash to cover bills .. game over! on the positive side .. if you do things responsibly .. you will eventually pay off all your properties and become debt free with a nice income stream .. retire at say age 45 if you desire. [/QUOTE]
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Should I buy this apartment investment property?
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