How to Buy Your First Multi Family Small Apartment Building

[spider705]

You in Houston right? Apartments high as giraffe pussy right now. To many investors over paying.

I was looking to start small... Get a townhome duplex....I saw one for sale in the neighborhood my ex and I used to live in in spring off of old Aldine Westfield...

My sister has a few properties off the beltway and Antoine... I've had to deal with her tenants once...I went as security... For the most part she turns over maintenance to a handyman that attends the church she goes to...I rarely hear her talk about it besides that one time, and that was YEARS ago.

 

[Drayonis]

You in Houston right? Apartments high as giraffe pussy right now. To many investors over paying.

Right now houses are cheap but all I'm seeing is these flooded money pits

 

[Dirtylakerie]

Thanks for the drop.

 

[Llano]

I was looking to start small... Get a townhome duplex....I saw one for sale in the neighborhood my ex and I used to live in in spring off of old Aldine Westfield...

My sister has a few properties off the beltway and Antoine... I've had to deal with her tenants once...I went as security... For the most part she turns over maintenance to a handyman that attends the church she goes to...I rarely hear her talk about it besides that one time, and that was YEARS ago.

Yeah, I have 4 properties & I property manage all of them & I got a full time job. It's really not as stressful as cats make it seem. Usually the maintenance calls are quick fixes I can do. I have a good address book of handy men & specialists who work cheap. Shit I'm more worried about property taxes the end of the year than maintenance calls

 

[spider705]

Yeah, I have 4 properties & I property manage all of them & I got a full time job. It's really not as stressful as cats make it seem. Usually the maintenance calls are quick fixes I can do. I have a good address book of handy men & specialists who work cheap. Shit I'm more worried about property taxes the end of the year than maintenance calls

I need to start...I came into some money after going through some unfortunate events, and I want to make the best of it...

All I want is to bring in $500 a month or so in profit... I'll be good with that...

 

[Llano]

Right now houses are cheap but all I'm seeing is these flooded money pits

Man houses in Houston not cheap either. It's still a sellers market. You might be able to cop a condo/townhouse on the low but the area may not be too desirable but it'll get you rent if you want to deal with low income tenants.

A lot of people are on forbearance programs due to the flood and will likely get forelosed around summer. The location is key though, I'll try to cop a property that was a one time flood from Harvey but numbers gotta be right.

 

[Newlots]

Yeah, I have 4 properties & I property manage all of them & I got a full time job. It's really not as stressful as cats make it seem. Usually the maintenance calls are quick fixes I can do. I have a good address book of handy men & specialists who work cheap. Shit I'm more worried about property taxes the end of the year than maintenance calls

I totally agree. I have 8 tenants (7/8 are Section 8), a full time job, a busy seasonal business plus I do Air BnB. Most of the time it's quiet and the checks come in on the 1st of the month. When problems happen they are usually routine, clogged toilet, door look malfunctioning etc.... It is more hectic in the winter for me, with boilers not acting right or pipes freezing, but eventually you find a good plumber, HVAC guy and a handy man and you're straight. Sometimes when a tenant hits me up with a problem I just call one of my guys and mail him a check. I don't even go out if it's routine.

I would love to buy more properties, but the market is too high. The ROI with these prices is not enough. I'm going to wait a few years for the market to level off. It's just not worth it with these crazy prices in the NE.

 

[callbacc]

Good drop... I always see his ads on YouTube.

 

[Man_Of_STeeL]

Land...

it's the only thing everyone needs..that they ain't makin' any more of...

 

[kareem chin]

subz

 

[Give Me 3ft.]

Great stuff. Can any of you apartment owners tell me if there's a lot of drama with multiple tenants? Repairs like "overflowing" toilets? Is it a headache? Also what legal protections (Liability Insurance) do you need on properties like these?

Property management company!