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+---- Thread: Purchasing my first APT building. (/showthread.php?tid=6177551)
Purchasing my first APT building. - ??? - Oct 19, 2021
The title pretty much sums it all I'm in my 20s, I currently live in the US, and ill be finishing the paperwork on my new APT building.
Don't want to say or give away too much info, but ask any questions you'd like, and ill try my best to answer if I can. The building is 6 units in a major city.
This is my first property it has a value above 500k but below 2 million. I am not an agent but I am getting my license in my spare time, and I will not be living him as I'm moving to another major city. Lastly, I did not come from money, this is hard work and intelligence.
RE: Purchasing my first APT building. - funtela - Oct 19, 2021
Wow this is an incredible accomplishment! Congrats!
What is your monthly payment looking like?
RE: Purchasing my first APT building. - ??? - Oct 19, 2021
(Oct 19, 2021 07:54 PM)funtela Wrote: Wow this is an incredible accomplishment! Congrats!
What is your monthly payment looking like?
around $4k nothing too crazy.
RE: Purchasing my first APT building. - funtela - Oct 19, 2021
(Oct 19, 2021 07:55 PM)Jᴀʏ Wrote: around $4k nothing too crazy.
Any upgrade or maintenance work you need to take care of before leasing the apartments out?
RE: Purchasing my first APT building. - ??? - Oct 19, 2021
(Oct 19, 2021 07:57 PM)funtela Wrote: Any upgrade or maintenance work you need to take care of before leasing the apartments out?
Slight things it "up to par" now but ill spend a coup,e thousand on new tile and repaint walls and digital door locks, the last one is iffy but it's convenient. I live in an area where tech in homes is pretty sought after and will increase the listing price.
RE: Purchasing my first APT building. - funtela - Oct 19, 2021
(Oct 19, 2021 07:59 PM)Jᴀʏ Wrote: Slight things it "up to par" now but ill spend a coup,e thousand on new tile and repaint walls and digital door locks, the last one is iffy but it's convenient. I live in an area where tech in homes is pretty sought after and will increase the listing price.
How long until you'll start profiting off of the investment?
RE: Purchasing my first APT building. - ??? - Oct 19, 2021
(Oct 19, 2021 08:01 PM)Focus Broken Wrote: What are property taxes like for the location?
hehe, expensive.
honestly not really but it feels like it when it cuts into your profit.
RE: Purchasing my first APT building. - ??? - Oct 19, 2021
(Oct 19, 2021 08:04 PM)Focus Broken Wrote: More or less than insurance?
Less for this property, insurance is pretty steep.
RE: Purchasing my first APT building. - SourceCode101 - Oct 19, 2021
that sounds awesome man! Whats the estimate value for it?
200k?500k?
RE: Purchasing my first APT building. - ??? - Oct 19, 2021
(Oct 19, 2021 08:06 PM)SourceCode101 Wrote: that sounds awesome man! Whats the estimate value for it?
200k?500k?
above 500k but less than 2M cant say exact numbers.
RE: Purchasing my first APT building. - SourceCode101 - Oct 19, 2021
(Oct 19, 2021 08:08 PM)Jᴀʏ Wrote: above 500k but less than 2M cant say exact numbers.
sounds FANTASTIC!!!!!
i get it not need to be exactly the correct amount , wd my guy
RE: Purchasing my first APT building. - ??? - Oct 19, 2021
(Oct 19, 2021 08:08 PM)SourceCode101 Wrote: sounds FANTASTIC!!!!!
i get it not need to be exactly the correct amount , wd my guy
Yeah looking forward to it if I can sneak in some photos I will.
RE: Purchasing my first APT building. - SourceCode101 - Oct 19, 2021
(Oct 19, 2021 08:10 PM)Jᴀʏ Wrote: Yeah looking forward to it if I can sneak in some photos I will.
try to make them not show up with google search
RE: Purchasing my first APT building. - Louis Vuitton - Oct 19, 2021
Wel sheesh I wish I had the financial stability to do something similar. Good luck with this!
RE: Purchasing my first APT building. - Baby - Oct 19, 2021
Now that’s an achievement OP, big congratulations on your new realty success!