Posted by Vic on January 23, 2001 at 01:30:55:
…you can go in & raise the rents significantly. 10 units at $500 is $5000. Your payment on that building will probably be $4000 or so, depending on int. rate. Then when you add in insurance, vacancy, maintenance, etc. all your profits will be gone.
Only way I see to do it is if the place is under rented.
Good Luck,
Vic
Do’s and Dont’s - Posted by Michael Barber
Posted by Michael Barber on January 22, 2001 at 11:32:40:
I have just purchased Carltons course I have not recieved it as of yet. I have always been interested in Real Estate although I am not a seasoned veteran. My question is I have found a very nice property with good rental history in a historic district with superb corporate growth. It is a 10 unit urban brick easy maintenance building. The price tag however is 449,000 with average rent of 500-525. Is there any advise on wether this would be a do or dont.
Thank You