How to Buy an Apartment Building
Purchasing an apartment building can be a great move, so long as you invest in one that fits with your budget. You should work with a real estate agent to find appropriate properties and then analyze the financial history of the building. Get a “rent-roll” that lists the number of units and the amount of rent charged for each. Also obtain a profit and loss statement from the landlord. Use these documents to determine how much you can borrow. It’s vitally important that you hire an inspector to look over the property before you close on the purchase. You don’t want to buy a building with unforeseen problems.
Part One of Three:
Locating the Right Building Edit
Part Two of Three: