How Do You Buy An Apartment Building?
When many of us hear the words apartment building, several images come to mind. We think of the leasing office, leasing managers, floor plans, leasing contracts, rents, utilities, and noisy neighbors. Essentially, we think of an apartment building solely as a place to live in with rent payments due on the first of every month. However, if the words “buy an apartment building” were heard, most of us would run screaming in the opposite direction with frightening images of investment banks, attorneys, fair housing laws, lengthy sales contracts, million-dollar commercial loans, corporate entities, business taxes, shady tenants, hefty down payments, and lawsuits. As it is true that buying and owning an apartment building involves huge amounts of cash, hundreds of tenants, and property issues; it is not the nightmare that most of us imagine it be. Master Recourse Loan Financing – You must first master the recourse loan market before you venture to buy an apartment building (this will be disc
