I live in one of the lousiest investment areas (as of now) as far as fundamentals is concerned. I live in Ontario between Chatham and Windsor. I work at the minivan plant located in Windsor, and my wife is a stay at home mom with 3 sons. The contract with Chrysler and our union expires in September of this year, and Mr. Buz Hargrove is pointing us in the direction of a potential strike situation. But already, Chrysler is playing hardball with one of our suppliers and wanting them to stay working for 11.25/hr. As a result, our minivan plant has been idled until something is worked out, and I am laid off. Chrysler refuses to pay us lost time even though it is a workers dispute not involving our union. It`s an intimidation tactic, to cause fear and panic. But hey, there is another minivan plant in the States just hungry for our work.
To sum it up, there is a real possibility of the plant coming to a close in the very near future. But while I`m still employed with Chrysler, I am still in a good position to get financial approval for loans.
My Question. If you were me with a limited time frame to give it your best shot, would you start small and buy a house or duplex or two, etc, .. or would you go big, and seek out the biggest apartment you could purchase. I need as much cashflow as I can get while I am still employed and can get a lone. But many of the big retail properties only produce surprisingly small cashflow for what I`d have to pay with my limited funds. And I think would need to buy outside my area, meaning more money, meaning I need a property management Co.
What would you do?
Ken
