Ever wondered what kind of apartments will make you the most amount of money in shortest time possible? Should I buy cheap ones? new ones? or old ones? Last week I was talking to a friend that owns a seo business about investing in apartments and it surprised me despite his success, he had no clue about investment and apartments, so here are my thoughts on it.
What should you buy?
I think you should buy unbelievable ones!
What do I mean by that? Well everything about the apartment has to be outstanding. Remember when you are investing in an apartment complex you are banking on that thing generating income for you for several decades. This is a big time investment into your future! Too many people do not take this seriously enough. They look into apartments as if they are all the same and the only factor they look at is how its doing now and if they can afford it or not. But I tell you going by current market trend is only 1 sliver of the factor you should be looking at, ideally you want to become the master of understanding what makes apartments good and what factors you need to stay away.
the bottom line is simple
You need to be able to score the value of the apartment complex without having a clue how its performing currently.
This is how you truly find the unbelievable apartments, by having your own standards not what is dictated by current trends. This may mean that you will turn down many apartment complexes that are doing “well” now, or you may pick a new apartment complex that feels like its bit of risk taking because its not as Hot as other apartments in the area. But you ultimately understand given 10-20 years the new ones will out perform all the old ones.
Like any investment the key is to have the understanding that will allow you to foresee into the future. It is when you can figure out the true value of each apartment without the help of outside data you will certainly begin to see into areas you may have not otherwise looked at before.
Think of it like adopting a child or a car you will ride in for the rest of your life.
Make this project personal, it certainly deserves that level of attention and care.
Investing in an unbelievable apartment complex can change your life and lead you to financial freedom so many of us dream of. Then you can just retire and write blogs like me about your favorite hobby, who knows it may be about apartments! and how to invest in the well! The irony!
You can count on it.