The good news is we are living a lot longer, the bad news is we are not prepared for it, and the financial and legal services industries are very traditional and slow to evolve.

What happened with the deal that went bad?

Is it a bad idea?

I’ve used SL Lending and they are great to work with and will keep you out of a bad deal.

My purpose is not to try to make you feel bad but I think apartments are a good way to go right now.Good luck to you!

Not that it’s bad just curious. 

I think the most important detail is to know your partner, then do a detailed LLC or JVP agreement and spell everything out, down to last detail, including an exit/dissolution in case things go bad. 

Is this a bad idea since the unit will no longer have a full bath?

@Linda S. ive had my share of bad luck with my first home, this has been a great change in pace so far!

-you need to consider disposition of asset, exit cap rates and valuation at key points like refi (if that is part of your strategy) and end of loan term Overall, I would say that all of the above needs to be put into a MF underwriting model as there are a lot of factors missing that will blow this investment up (in a bad way).