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Updated about 8 years ago on . Most recent reply
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Obtaining small apt. buildings
I've been thinking that, within maybe a couple of years and maybe with the help of some investments from friends/family, I'd like to obtain a small, maybe 8-unit apartment building. I have a couple of questions. Where/how do people find such properties? I occasionally see duplex/triplex's on my realtor's listings, but I never see apartment buildings (I'm not even sure Remax's system can show that). What are the prospects of building? I tend not to have my investments rely on appreciation, so when I heard a figure of $100-$150/sq ft being tossed around, and considering I wasn't wanting to build in an area that can support the higher end of that cost through rents, I was a bit concerned about that route.
Also, how does financing work? How do rates/terms compare on such buildings vs. SFH rentals? I have heard that they are actually fairly similar but would love some further insight. Thanks!