QUOTE (ThomasBeyer @ Aug 6 2010, 08:56 AM) what is your experience with apartment buildings ?
finding investors is very hard with no track record .. very !
Would you go to a dentist or heart surgeon if you were the first patient ?
Buy one or better 3 buildings with your own money first ...
What would be a reasonable interest rate to pay an investor who puts up the down payment for an apt. building. How long would you go until refinancing to pay him off? Is asking the seller for a 10-15% VTB reasonable? What could the interest rate be for this? I am seeing more interest in apt...
Thanks invesmart.
My original question was in regards to the 25% down on my part which you seemed to answer.
I have my eye on a couple of sub 55k/door in northeast alberta but in "crappy" town as you guys define it. This area has strong rental rates but is directly tied to the oilfield. But...
Thanks for your input guys and it is nice to hear your input on this topic. This property is in a small town and it consists of 3 buildings with half the units in this portfolio. The three buildings are in 3 different states of repair so it might need cash to repair.
I"m thinking a VTB only...
How can I purchase a multi-unit property with no money down on my end. Would a VTB of 25% allow me to qualify with the bank for the last 75%? Can I use the 25% VTB as my down payment? I also know of an apartment complex which is owned by the courts and was wondering how this works and can...
Hi Jen, Craig. It`s Ken from Bonnyville. Have you talked to any trucking outfits in the area or other oilfield companies? There tends to be truckers looking for storage for their rigs during the winter. Maybe put an ad in the local papers to rent the space.
Take care
I was wondering if there was any market research done on the Lakeland area (NE Alberta) as this area has huge oilfield investment and tourism opportunities. We attended the Quickstart in Edmonton and learned a lot and have lots more to know.
Any info would be appreciated
Thanks
