:QMillennium is being helpful:QOriginally posted by: Millennium
How many units? Have you ever built anything before? How much Capital do you have?
Originally posted by: Millennium
How many units? Have you ever built anything before? How much Capital do you have?
Originally posted by: SeaMonki
Originally posted by: Millennium
How many units? Have you ever built anything before? How much Capital do you have?
Let's say 12 units. No, I have never build anything like this before. As for Capital, I am trying to figure out how much I need to see if this is project is worth it or not.
I would say you are looking at several hundred thousand at least. Are you making the apartments upscale, middle of the road, or catering to lower income? Are you willing to accept Section 8? Who is going to do maintenance.
Have you talked to a bank yet about how much they would be willing to loan?
Originally posted by: SeaMonki
I would say you are looking at several hundred thousand at least. Are you making the apartments upscale, middle of the road, or catering to lower income? Are you willing to accept Section 8? Who is going to do maintenance.
Have you talked to a bank yet about how much they would be willing to loan?
I'm thinking about renting to the middle of the road group, and I am not willing to accept section 8. As for maintance, I think I'll just contract out to the property management company.
As for the loan, it's around half a mil. So any good apt housing builders/developer websites?
