Are there a lot of successful investors doing low/middle income apartments?
I know there a lot of turnover, more maintenance, and evictions but it is easier to get finance and requiring less funding.
Can a biginner start with this, what are some of the most important tips to be successful, say with 4-10 units? Does using property management company help so this won’t take much of your time from f/t job?
I like investing in multiple units a lot better than SFR’s. When one is vacant, there are at least a few other ones that bring income!
Having gone through a lot of misery with a tenant when I was overseas, I would now always hire a property management company. They usually do everything and some of them don’t charge that much. But you should check them out and compare percentages.
1-4 units loans are still considered residential, 5+ loans are considered commercial.
Thanks Joyce. This is very helpful.
Where and what kind of properties do you own currently, any low income housing?
How much PM co. typical charge and how do they handle repairs(owner pay)? I do like the idea of using PM but for 4-unit, it might not cashflow without you doing it yourself. Is it hard to find a deal maybe HUD income property(have you bought HUD before), that will cashflow with PM in place.