Category: Investments

tree near building
Posted in Apartment Investments

8 Insider Tips For Looking For Condos

 Author: Manuel Marley Published Date: October 17, 2016

Buying a condo is not just like buying n ordinary home. There are different factors that you should consider before landing the right choice. For instance, when looking at the The Wyatt Condos, you need to look at the neighborhood, parking pace, monthly charges among other variables common to condominiums. Here are eight tips for looking for condos that will help you make the right purchase decision.

Buying Tips

  1. First, be open to any choice. Be prepares to check out a variety of condo styles- from high-rise to low- rise, and building others with amenities like gym facilities and doormen. This will help you to find the match that suits you.
  2. Meet the building staff. If you are going to like them, then chances are you’ll be comfortable living there.
  3. Find out the monthly condo maintenance fees and the specific details about those charges. For instance, if there property taxes, and are they part of the fees? Common expenses levied to occupants are insurance and repair costs.
  4. Do not lose your view. This is for those who want picturesque scenery right outside their window. Note what is being built next to the particular building and other details that might interest you. If it’s another high-rise condo, you should confirm that it’s not blocking your view before you settle on the purchase.
  5. Check out the community. Chat with the owners already living there. Foreclosures and delinquencies have plagued numerous condominium properties, so you need to do your homework if you do not want to watch your dream condo turn into a nightmare. Also, it is easier to get a mortgage to buy a unit where delinquency rates are low.
  6. Take a look at the condo association’s meeting minutes. You want to buy into a stable community. The minutes will give you a good view of the culture of the building. You’ll be able to determine if the condo leadership is responsive to concerns of the occupants and if any particular residents are loud, intolerable, and are driving the rest of the building crazy.
  7. Get thhomee history and projection of future resale price. Your real estate agent can help you determine this. The condo is an investment. Find out how much it previously cost, and how much you will make down the road. Also, see what comparable suites in the building and the region have sold for.
  8. Research the developer and corporations behind the condo. You do not want to buy a place drowning in debt. You also do not want to be entangled in contentious lawsuits

When you zero in on your preferred choices, visit them during different times of the day, especially in the morning and evening. Scope out the neighborhood and see if you’re comfortable with it.

Posted in Investments

Great Apartment Buildings For Sale; If You Look Careful Enough

 Author: Manuel Marley Published Date: January 28, 2016

Apartment Buildings

You can find a variety of apartment buildings for sale these days.

These buildings can be amazing investments and you could make a great deal of money on rent and other charges. However, you must think about what effort goes into many of these buildings that you can find for sale, so you can choose one that fits your requirements.

  • How Many Units?

The number of units in a building has to be considered. This will relate directly to the total number of people that you can collect rent from.

  • What Are the Units Like?

The units should be reviewed based on their floor plans including on how many people can fit into a particular unit. Some units may be better suited for families while others are for smaller parties like couples. Either way, you should look around as you can get an idea of who your clients would probably be. It can give you a good idea of what people might want to spend on your apartment building as it goes up for sale.

  • Apartment Buildings For SaleHow Is It Maintained?

The maintenance points for an apartment building must be checked with care. There are clearly a variety of different internal features that have to be utilized with care within a building. These include things like the plumbing and electrical connections as well as support for online and television access.

Meanwhile, you might want to look at the yardwork that is required in a property. The yardwork will often entail mowing a surface outside the building or keeping a paved surface from cracking apart too much. Either way, the responsibility you’ll have for maintaining the area around a building can be substantial.

  • Check Local Laws

Every property has its own series of local laws for you to work with. These include laws relating to whether or not people can run properties from within an apartment building. Check on these laws for your building in particular.

  • Don’t Forget the Garagechairs

A private garage for your tenants can make a difference. This can add to the perceived value of the apartment building as people will want to spend money on whatever you have to offer at this point. You should see if a building has a private garage attached to it or if the parking spots for the tenants are going to be managed in some other way.

You can find great apartment buildings for sale and they can be very profitable, if you know what to look for. Be careful when checking to see what is available for your investment desires.