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Updated about 1 year ago on . Most recent reply

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Dakota Workman
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Is a 6 unit apartment a good way investment?

Dakota Workman
Posted

There is an auction in about a month for a 6 unit building, fully rented out as far as I know, for 2650 a month. Thing is, I know auctions all have their own set of rules and such. And it's an online bid type of auction. While in trying to learn about Wholesaling, I'd like to dive into the investment end of Real Estate as well. 

Guess I'm asking for a bit of help or info from anyone who's done a lot of auctions and if there are loans out there to fund such an investment, whatever it ends up being, within reason? Any help is appreciated. I'm a newbie, just trying to make smart decisions. 

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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied
Quote from @Dakota Workman:

If it's an online auction, there will be a lot of competition. Most of them will know much more than you and have deep pockets. It will probably sell for more than it's worth.

I would watch and learn, but I wouldn't participate.

  • Nathan Gesner
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