With unemployment so high..

is this a bad time to be buying an apartment complex ? any insight on this would be appreciated .. thank you
In Buying Property - Asked by Trent D. - Dec 11, 2008
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Answer(s)

Stuart D.
Broker/Agent
Westminster, CO

Hi Trent,
where in the counrty are you looking at purchasing? how many units? What's the price points of the units? How does that compare to the average rental rates in the area?
And there are a few more questions before I can offer an intelligent answer.
thank you,
Stuart

Dec 11, 2008
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Trent D.
Owner/Investor
Whetstone, AZ

Stuart, thank you for the reply, kinda leaning towards TX,, No of units..prolly.50 -- 100ish, Just concerned about unemployment rates. thanks for any help

Dec 12, 2008
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Joe V.
Owner/Investor
Plymouth, MI

This is the best time to buy muti-family. In fact, it is the best time to get into commercial real estate investing period. IF you make the right choices, as in non "Ma and Pa" businesses/leases you can do very well. The key is getting financing. My source is www.commercialfinanceconsultants.com. They have access to some very creative, very low cost financing. Beats any Hard Money scenario you may be stuck with.
Joe Villeneuve, President
3VEnterprises, LLC
734-455-9232
www.3VEnterprises.ws

Dec 12, 2008
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Derrick P.
Broker/Agent
McKinney, TX

Hi Trent
Texas has good buying/selling activity when it comes to multifamily properties. I can help you look for properties in the Dallas Area. Send me your info.
Derrick Parks
derrick.parks@gmail.com

Dec 16, 2008
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Joe V.
Owner/Investor
Plymouth, MI

This could actually be a great time to buy...if you find the right area. Poor economic times usually means lower owners and more renters. Think about this, all the foreclosures have to live somewhere...and they can't buy again, for at least a while.

Dec 18, 2008
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Tai L.
Broker/Agent
San Diego, CA

It's not about good time or bad time. Where are you buying? What price, cash flow, physical condition of the property...? What loan programs are available as well.

May 23, 2009
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