The Apartment Investing Boom – What Makes Them a Great Asset?

More and more investors are beginning to invest their money in apartments. The apartment investing boom is definitely a trend that the savvy investor needs to take a close look at. First of all it is important to note that in today’s world most people will probably rent a home before they ever buy one, and with the current trends in housing prices and today’s economy this is a trend that is around to stay for awhile.

The age of these people who are renters is about 18-35, and in the next 10 to 15 years, the number of people in this age group is going to increase by five to seven million, which means apartments are going to be in even more demand than they are currently. Signs are definitely showing apartment investing to be a wise choice for people interested in commercial real estate investing.

Apartments also make an excellent source of income as well because you can have multiple renters under one roof, but only one building that you have to maintain. Also, the value of apartments is based on your net income, so whether the income increases or the expenses decrease, you will still be making money on them. If you pick good areas for your apartments, usually the rents will rise as well, which means you will make even more money from those apartment buildings over time. It is also relatively easy to get funding for apartments as well.

Knowing Where to Buy

Of course one very important thing that is essential if you are planning on investing in apartments is to know where you need to buy. When purchasing apartments, you want to be sure to buy or construct in an area that needs apartment buildings. Look for big cities that are increasing their population on a regular basis. Also take a look at local real estate. Many times apartments are a big hit where the real estate market has out-priced itself and many people cannot afford to purchase a home.

Hot Spots Across the Country

There are various hot spots across the country that are growing in their multi-family needs, and these are the places that you want to invest in apartments. Some of these places include Las Vegas, Orlando, New York City, Washington DC, Houston, Chicago, and the Dallas-Fort Worth area as well. As you will notice, each of these hot spots are big cities, and often larger cities and their surrounding areas are the best places to purchase apartments. Most of the time people cannot afford to purchase a home in these cities because of the cost of real estate, so they end up looking for a place that they can rent instead.

Keeping an Eye for a Great Deal

If you are interested in getting involved in the apartment investing boom, you will need to learn how to keep your eye out for a great deal. You see, apartment investing is very popular and a competitive market; however, there are still good deals out there for you to find. If you find an apartment building that needs some work, then this may be just ripe for a great deal, and then you can put a bit of work in it and start reaping the income. Also, you will find that apartments that are having problems keeping their occupants may also be a good place to look for a great deal as well. In order to make money on your investment, you are going to need to make sure that you find a great deal, and it is also important to make sure that you check things out before you make the final purchase.

Tips to Remember When Buying

Once you finally decide on a place you are interested in, there are going to be some things you need to do before you close the deal. The following are a few tips to keep in mind when purchasing apartments.

Tip #1 – Evaluate the Building – Before you buy an apartment building, make sure that you take the time to evaluate it very thoroughly. You will want to be sure to have inspectors inspect it as well to make sure that there are no problems you need to know about before purchasing it.

Tip #2 – Inspect all Units – You will also want to be sure that you go through every unit of the apartment building before you purchase. Arrange to have a walk through when you can take a look of even the units that are currently being rented.

Tip #3 – Evaluate the Leases – Another thing you will want to do before you buy an apartment building is take a good look at every lease. Check out the terms so you know for sure what you are getting yourself into when you buy the place.

Tip #4 – Get a Recommendation for a Manager – When you plan on buying an apartment building, you want to be sure that someone manages it, but you never want to do it yourself. Make sure that you get a good recommendation for a manager for the apartments.

These are just a few tips that can help you make sure that you get a good deal when you buy apartment buildings. Be sure to keep them in mind so you avoid any investing disasters. Yes, apartment buildings are a great investment; however, on your part you must do your homework and find the right building in the right place. Once you do that, then you have great potential for making a lot of profit from your apartment buildings.

The Three Localities You Should Know When Looking For Raleigh Apartments

Are you having a hard time choose which locality is best when finding apartments in Raleigh? You do not need to worry anymore, because all you have to do is know the features and benefits of each locality, so that you will be able to choose which suits you the most. Raleigh is the capital of North Carolina, and it is the best place to grow old. However, if you are just planning for just a short stay, you should definitely consider living in Raleigh apartments for rent, instead of buying a brand new house and lot.

Raleigh, North Carolina boasts many wonderful attractions that tourists should definitely visit, in order to experience the history and development of the city. Some of the top attractions in Raleigh are the Marbles Kids Museum and North Carolina Museum of Art. Raleigh is divided into three areas, namely Old Raleigh, West Raleigh, and North Raleigh.

If you want to live in a historical neighbourhood that flourished through the emergence of warehouse districts and other cultural development, you should try looking for Old Raleigh apartments. Old Raleigh is the home of Peace College, a university that specializes in liberal arts. This locality has a very close proximity to Raleigh-Durham Airport, Research Triangle Park, and the RBC Center. This area is also proud to be the home of Raleigh’s top city attraction City Market. If you want to live in a historical place wherein you will feel the old-times atmosphere while viewing the architectural designs, then you should live in Old Raleigh and find some Old Raleigh apartments for rent.

West Raleigh is the right place for you, if you want to live in a town dominantly filled by North Carolina culture. Hillsborough Street and Oberlin Road showcase the vibrant nightlife. Many apartments in Raleigh are located near the bars and restaurants downtown. Besides the vibrant nightlife they offer, Hillsborough and Oberlin are also full of historical structures. So, if you find these things interesting, then you should look for West Raleigh apartments.

Meanwhile, you might also want to consider finding North Raleigh, North Carolina apartments because they are located in a calm and peaceful area. North Raleigh is a place away from urbanity and loud bars. It is the home of William B. Umstead State Park. You will definitely enjoy your family life in this neighbourhood.

Apartment Renting in Oaxaca, Mexico

Renting an apartment often presents a nice alternative to hotels or hostels for travelers staying in one location for a few days or longer. Hotels and hostels are more common than apartments, of course, but apartments should be considered.

Renting an apartment for a week or longer offers several advantages to staying in a hotel or hostel. One key advantage is cost: a nice apartment will just about always be cheaper if not far cheaper than a comparably nice hotel room. A second advantage is that an apartment almost by definition is far larger than any hotel room, and this is more important the longer the stay. Returning to a hotel room day after day where the only options are sitting on the one chair or lying on the bed gets old fast.

A third advantage is that an apartment has cooking facilities, which allows for additional savings; eating out daily adds up quickly. Additionally, people who have special dietary needs might prefer their own kitchen. Finally, one subtle advantage apartments have over both hotels and hostels includes allowing one to feel just a little less like a tourist and a little more like a local. Emerging from an unmarked building onto the street has a different feel from exiting a hotel.

Hostels can be quite inexpensive, and sometimes cost as little as an apartment, but that low cost comes with a price: shared dorms, bathrooms, and kitchen facilities. All can be shared, or sometimes a private room can be rented with a shared bath, or a private room and private bath can be rented with a shared kitchen. But the increased privacy costs more. Many people aren’t keen about sharing close quarters with strangers. This might be acceptable for more adventurous travelers (indeed, I shared quarters with strangers when I was younger) but most travelers want a nice, clean, quiet, and private place.

However, one advantage hotels and hostels have over apartments is that they tend to offer more service, including a desk clerk on duty most of the time, daily room cleaning, and so on. Apartments tend to be less directly service oriented. On-site manager, garbage removal, drinking water, sheets, towels, etc. might or not be part of the apartment package; you need to ask.

In Oaxaca, there are apartments that specifically cater to travelers and tourists, often associated with a hotel. They are prepared to deal with foreigners who don’t speak Spanish very well, and they also are likely to repair things that break and return your damage deposit when you leave. (Oaxacan landlords don’t necessarily do either!) There are other non-hotel affiliated apartment rentals that cater to the foreign traveler, but they aren’t always easy to find.

Finding them is not easy because there aren’t very many good ones. But here are a few tips that might help.

The first useful step, if you don’t have any local Oaxacan contacts, is to check the Internet. There are several good apartments listed that cater to foreigners and have nice, clean, tastefully decorated apartments at reasonable prices. Most are small, but they will be nice or at least nice enough. Arranging accommodations in advance is a huge relief to a lot of people, who then are able to focus their initial days or weeks on something other than trudging around looking for an apartment.

Info to seek — what is included in the price (gas, electric, city water, garbage removal, etc.), how much is the deposit, is there high speed Internet, kitchen furnished, maid service, and so on. Noise, access, security, pets, etc. Also inquire about the water tank capacity, a cistern, and its size. Apartments without adequate cisterns, especially during the dry season (Spring), can be very uncomfortable.

Be aware that apartment hunting after arriving in Oaxaca usually isn’t quite as easy and straightforward as in the US. In the US, many apartment buildings have an easily visible sign facing the street with contact info, and often basic info like how many rooms, baths, etc. And a quick phone call yields any additional basic info you need to decide if a showing is worth the time. In Oaxaca, signs out front are usually handwritten and have no info besides the phone number. So you often end up wasting time calling someone to discover it’s not worth seeing. If someone answers the phone. And if that person happens to know something about the apartment. Sometimes it takes multiple calls to get basic information.

Because there is no central listing of available rental apartments that I know of in Oaxaca, reliance on ad hoc listings is necessary. Newspapers have a small number of apartment rentals in their classified section but they tend toward the expensive. (This is not all bad: most gringos probably should look for more expensive apartments because the cheap ones are cheap for reasons prohibiting much gringo interest.) The Oaxaca Times, for example, could be checked on line before arriving.

A second place to look after arriving in Oaxaca is in the apartment listings at The Oaxaca Lending Library, on Pino Suarez just south of El Parque Llano. This is probably the best place to look, especially for nicer places that are gringo friendly.

After that, it’s pretty much walking around the streets and hit or miss. This last method is very time consuming and can be unpleasant and frustrating, especially when hot outside. I’ve looked at dozens of apartments with this method — it’s hot, apartments are far apart, sometimes the owners are 15 minutes late, etc. Often you can see within a nanosecond that the unit is nowhere near what you would consider — their definition of two bedrooms isn’t close to what you would call two bedrooms, the kitchen is grimy, etc. The primary advantage is learning the streets and neighborhoods and practicing Spanish. But gems are out there, however few and far between.

By all means consider renting an apartment if you are staying more than a few days, and especially if staying a week or longer. The extra space and the cost savings will make the search well worth the time.