Prospective tenants from the same complex walked in and made an offer on the spot.Another unit in the same complex with a spectacular lake view but older kitchen was on the market for months.

INFO:Wilmington, NCOffer accepted: $39,900 2br/2bath about 890sf82 units in complex HOA: $150 no amenitiesRent in area: $600-650Build in 1984We have a contract but further investigating the HOA they have no reserve, about 30% of units in default, and they have a budget for 2011 that shows expenses higher than income for $14K, without virtually any reserve.Lots of foreclosure units and HOA does not get the past dues fees in those cases.

We have 2 rental condos we own free and clear, and are now researching commercial investing - strip mall, small office complex.

I'm in the process of analyzing a 22 unit apartment complex and when I requested from the seller his income/expenses and rent roll, he sent a couple of excel spreadsheets.

We have a very similar situation in phoenix where we own 6 of the 7 condos in the complex.

My high net worth clients tend to buy large multifamily complexes where infrastructure makes it passive but you need a certain volume of door about 80 or higher in a complex.

Trading commercial paper is not as simple as residential paper as the collateral is much more complex and the legalities of paper are weighted heavily.  

Hi Zachary,Multifamily has always been of interest to me but I decided to build a cash only portfolio with SFH before jumping on board with Multifamily.SFH is lower risk IMO due to the $$$ amounts being smaller.Starting off with SFH will definitely get you well prepared for the complexities that investing in Multi's will throw your way.Thanks for reading.

As you can see it it can be a bit complex but with the right help of a mortgage professional it can help you be on the right track.

I am interested in apartment complexes, but haven't been able to find anything that is suitable in my area.