it can be done..

most apartment complexes turn south are because poor management, if you can actively pursue it, it can turn around.

buy as cheap as you can, 50cents on a dollar.

loan as much you can, let the seller carry a 2nd.

preserve as much cash as you can, for immediate upgrading after closing.

kick as many bad tenant out as you can, improve the quality of tenants

raise the rent as much you can, improve the rent roll.

here is the last 13 units I purchased in 2007, my occupancy rate is 99% in 2008, positive cash flow positive over 25k.

http://blog.wenxuecity.com/blogview.php?date=200807&postID=22982

http://blog.wenxuecity.com/blogview.php?date=200807&postID=22997

http://blog.wenxuecity.com/blogview.php?date=200807&postID=23677

所有跟帖： 

• Wow! a million-dollar advice. 珍藏了, 太感谢了 -万枫- ♂ (0 bytes) () 08/05/2009 postreply 18:44:19

• 你是自己做PM还是股别人做PM,?花费差多少？ -万枫- ♂ (0 bytes) () 08/05/2009 postreply 18:48:34

• my wife and I managing all 93 units we own, we had 2 full time h -jy101- ♂ (87 bytes) () 08/05/2009 postreply 18:59:37

• Thanks a lot. I 've really learned a lot today. -万枫- ♂ (0 bytes) () 08/05/2009 postreply 19:05:53

• very impressive! -美西游子- ♀ (0 bytes) () 08/05/2009 postreply 19:25:12

• 佩服！ 我看到书里的 说上百个unit. 谢谢分享， 也加强了 我们致富的信念 -比花花还花- ♂ (0 bytes) () 08/05/2009 postreply 19:49:20

• This is true landlord's bible. Thanks, jy101! -美西游子- ♀ (0 bytes) () 08/05/2009 postreply 19:21:15