More Desirable Apartment Buildings

Many apartments for rent available are in our city. The standard rent may vary from $400 per month up to $1500 for a luxury suite. This price is for a one-bedroom-apartment with a fully fitted kitchen and a full bathroom. Usually you have to put a security/damage deposit in as well. Such a deposit normally is equal to half a month rental price. In some cases utilities are included in the price, and in other they are not. If paid separately utility costs vary depending on usage.

When renting out an apartment building there are certain things you can do to get more people to want to live in your apartment building. One thing you can do to make an apartment building more desirable to live in, is if you buy new appliances for each apartment. Some of these appliances you can buy are new refrigerators and new stoves. These appliances can bring out the beauty of each apartment and give it a more welcoming feeling.

Another thing you can do to make an apartment building more desirable to live in, is to put in a new bath tub. If the family or the person who is looking to rent out the apartment sees a brand new bath tub, it can show them that you really care about the building. Sometimes if a person or a family sees things in an apartment that looks kind of old, in their mind they may think of the apartment as being cheap.

One last thing you can do to make an apartment building more desirable to live in, is to get wifi internet for the whole building. If the person or family who is looking to rent out the apartment knows they can get free high speed internet, it will make them more eager to live there. When adding new things it is important that you don’t over spend so much that the rents don’t cover the expenses. If you add some of these things to an apartment building, it is a good way to charge more in rent. Most of all when you add new things to the building, it will show you care and people are more likely to take good care of the place.

Closing Costs When Buying a Multi-Family Apartment Building

When buying a multi-family building as an investment property, closing costs can add up to a large amount, and thus should be calculated with careful attention since the investor needs to estimate if he has enough funds for the down payment and the closing costs prior to closing the deal.

It is also important to estimate how much cash is needed to put aside for the closing costs prior to closing since one of the bank’s conditions when approving a mortgage is making sure the buyer has enough funds for the down payment and closing costs together.

Appraisal Fee: This requirement is helping the bank to assess the market value of the property, so that it can estimate the LTV (loan-to-value). If the appraised value is $500,000 and the LTV is 80%, then the bank is willing to loan $400,000 out of the total assessed value. Appraisal fee is usually a must with insured mortgages, but for conventional mortgage, it can sometimes be waived at the discretion of the bank that provides the mortgage. Appraisal fee depends on the size of the multi-family buildings and other considerations. The appraisal directly correlates to the size of the building: the larger the building, the higher the appraisal’s fee.

Phase 1 Environmental Fee: Environmental analysis of the property and all surrounding uses or conditions to make sure the property and its surrounding aren’t contaminated from any past use of chemical, oil tanks and other hazards. Usually this fee is associated only with insured mortgages only and not with conventional ones.

Inspection Fee: Inspection fee includes careful inspection of each unit in the building to make sure there is no structural problem with any of the units and the building overall. Inspection should be done only by a professional, since missed issues by him can later on cost you a lot of money to repair. The more units to inspect, the higher the fee that is charged by the inspector.

Land Transfer Tax (LTT): This fee depends on the province the multi-family building is purchased in. Specifically, if the property was purchased in Toronto, the land transfer tax needs to include Ontario LTT and Toronto LTT.

Legal Fees & Title Search & Disbursements: Each transfer should be reviewed legally by a lawyer. A lawyer is in charge of completing the transfer of the deed, preparing the mortgage, and conducting various searches such as, title search.

Land Survey Fee or Title Insurance Fee: A recent survey of the property is usually a requirement of the lender. If non is available, then title insurance can replace it.

Mortgage Application and Processing Fees: This overall fee depends if the mortgage is insured or not. If the mortgage is insured, then the investor needs to pay both the insurance company (CMHC or GE) and the lender itself. CMHC charges processing fee and mortgage insurance premium depending on the amount being loaned and the amortization period. On top of that, each lender charges application fees as well. The lender’s application fee depends on the institution the money is being lent from.

Reserve Fund: Reserve fund should be added to the closing costs to make sure that in the first couple of years (before any cashflow has been accumulated) there is enough money to be spent in case “big item ticket/s” need/s to be fixed/replaced, such as leaked roof, furnace stopped working, etc.

It is very important that you search around for different professionals before deciding on which one to go with. Your considerations when choosing should include price, reputation, and efficiency.

In conclusion, the total amount spent on closing costs can start from 2.5% of the purchase price and go up to much higher amount depending on various factors, such as the amount put into the reserve fund, the province you choose to buy your investment property in, etc

Lihi Pearl: B.Eng, MBA

Lihi Pearl is the VP of L & L Real Estate Investment Inc. which specializes in buying, selling, managing, and arranging mortgage financing for multi residential apartment buildings located all over Ontario, Canada.

Commercial Mortgages – Bank Requirements For Multi-Family (Apartment Building) Loans

Many commercial real estate investors contact our firm and want to know in-advance if their deal can qualify for an institutionally funded (bank) commercial mortgage loan. Unlike residential lenders, commercial mortgage lenders do not issue “pre-approvals”; we simply can’t tell if a deal will get done until we do some underwriting. We can, however, share with you some basic guidelines that virtually all conventional lenders are considering today.

Loan-to-Value (LTV)

LTV has been dramatically reduced during this “credit squeeze”. Just 24 months ago we were seeing LTV ratios above 80% and lenders were allowing large 2nd mortgages. Standards have tightened. In today’s credit environment, investors should not expect to see any loan offers above 75% and many are coming in significantly lower. 70% is a normal LTV ratio on new purchases with some lenders willing to go to 75% on refinance loans. Seller carried 2nd mortgages are discouraged and often disallowed altogether. Borrowers and sponsors without large cash investments in a deal will be turned away.

Debt Service Coverage Ratio (DSCR)

Banks, insurance companies and Wall Street brokers simply will not write loans against underperforming or vacant buildings anymore. Only stabilized assets need apply for institutional funding now-a-days. A building must be able to demonstrate a history of profitability and low vacancy. To be approved for a bank loan for the purchase or refinance an apartment building, the building must have a net-operating-income (NOI) equal to 125% of the proposed mortgage payment (a DSCR of 1.25). Deals that do not meet this requirement will have to wait until the credit markets improve or seek private funding.

Credit

Borrowers or sponsors with weak credit scores are being summarily rejected by banks. To qualify for a low interest loan with good terms, from an institutional lender, all the principle borrowers need to have a tri-merged credit score of 640 or better. I know this is bad news to many good people with problems on their credit reports, but that’s just the way it is right now.

Experience

Banks are not willing to take a chance on first-time apartment investors. All borrowers are now required to demonstrate real experience in rental housing and a track record of success.

Net-Worth & Liquidity

Many banks have instituted a policy of requiring that their borrowers have a net-worth at least equal to the balance of the loan they are seeking. In-other-words, if you want to borrow $1MM from the bank to buy an apartment complex, you need a net-worth of at least $1MM. Further, they will want to see that you have some money in the bank above and beyond the funds you’re using for a down-payment. Often they will require borrowers to have a savings account balance equal to 6-9 monthly mortgage payments.

Quality Property in Good Location

To secure financing from a traditional lender the building must be in a city or town that is not particularly depressed economically. Hard hit areas of MI, FL, CA or NV, for instance will be shunned. Also, the structure must be in good repair, lenders will shy away from buildings that have a-lot of deferred maintenance.

Deals that meet these basic requirements will find that there is no lack of liquidity even in this tight credit market; there is plenty of money for apartment loans for the borrowers and buildings that can qualify. Unfortunately, for deals that can not meet these higher lending standards, investors are going to have to seek privately funded, often called hard money loans or take on a well-heeled partner in-order to get funding.

Family Law – Don’t Let Disputes Tear Your Family Apart

When you are faced with disputes and disagreements within your family and have trouble reaching solutions or keeping things amicable, it may be time for you to hire an attorney that specializes in family law. Even though everyone may have the best of intentions when they are trying to resolve disputes, everyone knows that things can get a bit testy no matter what the situation is. Family law attorneys have a wide area of expertise. They handle everything from divorces, legal separations, child support, alimony, custody disputes, adoptions, paternity issues, division of assets in divorces and more.

Depending on your particular situation, you may feel that you can get things resolved in a fast manner without having to go to court. Since family issues often results in both sides letting their emotions get the best of them, it is imperative to keep the lines of communication from breaking down and hire a family law attorney. You want to avoid letting things get out of hand and to keep things professional and any agreements completely legal, you can always request an arbitration with a family law attorney.

By utilizing the services of a family law firm, you can help to get personal matters resolved in your favor. Sometimes if you don’t know what your rights are, you can end up being taken advantage of or having things ruled against you. If you want to give yourself a fighting chance, you need to make sure you have the right legal counsel that money can buy.

When you need assistance or simply legal advice, you can always go to a law firm that handles domestic affairs. You can get expert advice and receive guidance about what needs to occur for things to be resolved in your favor. Who knows, you may need help coming up with a good strategy or arrangement. It is always a good idea to hire legal representation when things need to be determined and they involve assets, children and legal issues.

Make sure that when you select an attorney, they have a good reputation. They should also have a lot of expertise and knowledge about laws regarding domestic and family situations. Since the laws regarding these areas can be quite extensive and complex, instead of trying to figure out what you need to do, a lawyer can help guide you.

Don’t be ashamed or afraid to ask for help when things start to get a bit out of control. Sometimes it is necessary for you to seek legal counsel because the other party is being unrealistic and overly demanding. To prevent yourself from being treated unfairly, you should make sure that you don’t enter into any agreements or attempt to do any litigation without proper counsel.

Do yourself a favor and stop making a stressful situation even worse by keeping matters professional and letting your lawyers handle everything. This way no personal feelings will get involved and cause any complications.

When the Bride and Groom’s Families Do Not Agree

A wedding is about much more than the marriage of two individuals. It is really about the joining of two entire families, for better or worse. It is not at all uncommon for a man and a woman from two very different types of families to become engaged. While they may have no problem merging their styles, it can be a different story for their parents. This is what to do when the bride and groom’s families do not agree on how to plan the wedding.

Have you ever been to a wedding where you could tell the bride and groom’s families apart in an instant? Maybe one is very conservative and the other very liberal. Perhaps one family prefers a formal style of entertaining and the other likes to keep things casual. While no one style is inherently better than the other, it can be a source of great conflict when the two families don’t see eye to eye on what makes a great wedding.

Of course, problems can run even deeper than style, particularly if each family is from a different religion. If the groom’s family consists of born-again Christians who abstain from alcohol and dancing and the bride’s family loves to party, there are going to be some serious disagreements! In general, the host family, which is typically the bride’s side, has most of the say in what the wedding will be like. With the power of the purse comes the control over the event. That said, if there is a serious risk of deeply offending the groom’s parents, some compromise should be considered. In this example, perhaps the bride’s family could agree to plan a more sedate wedding than their family usually hosts, to be followed by a more wild after-party. The groom’s family should certainly be invited to attend the after-party, with the understanding all around that they most likely will not.

Sometimes one family has a lot more money than the other, with the extravagant taste to match. This tends not to be as big a problem when it is the bride’s family with the money, since they are likely the ones paying for most of the wedding anyway. They should still be sensitive the the situations of others, however. In other words, if the groom’s parents could never afford to attend a destination wedding in Bora Bora, the bride’s family should be understanding enough to plan a wedding closer to their home. Then they can go crazy making it just as lavish as they want, without putting the groom’s family in an impossible position.

When it is the groom’s family with the more expensive tastes, things can really get ugly. In many cases, the bride’s family will still be paying for the wedding, and under no circumstances should they be pressured to plan a more lavish wedding than they can afford. One solution is for the groom’s parents to offer to chip in, as long as they can do so in a way that is gracious, and doesn’t come across as condescending. In other words, the financial gift should not come across as implying that they had to help to rescue the wedding from being a tacky disaster! The groom’s parents should also keep in mind that the bride still gets to maintain creative control of her own wedding. Certainly she should seek input from the groom’s mother, as well as her own, but in the end the style of the wedding is up to her. If that means a backyard barbecue instead of black tie at the Ritz, well, the other family is just going to have to learn to love barbecue.

Of course, keep in mind that you may discover that the other family has some good ideas. In some families, it is customary for the groom’s parents to give gifts of wedding jewelry to the bride. Who wouldn’t like to add that fantastic custom of getting wedding jewelry gifts to her wedding? It is acceptable for the bride to gently nudge the groom in certain directions as well. Maybe his family takes a very casual approach to responding to social invitations, but the bride is planning a seated dinner which requires an exact head count. Each family has something special to bring to a wedding, and if both sides remain open to new things, the end result will be a wedding which the pleases both the bride and groom’s families.

Bringing Your Family Closer to You Using “The Law of Attraction”

The Three Step Recipe for success.

The Law of Attraction can help you do anything that is good. You can use it to work on your family relationships, and work on yourself at the same time. It can work regarding your career. It can work for you in fact regarding any aspect of your life You will want to work on yourself and work on ways that you can bring yourself closer to feeling complete and happy.

The first step is to identify what it is that you want. You may want to bring your family closer, but be more specific. You will find that there are many things that can be worked on when it comes to the family, but you have to get specific and personal. You will need to think about what part of the family relationship that you need to work on and what it will take for you to bring the family closer to your own mind set.

The second step is to learn how to let go of all negative energy and replace it with all positive energy. It is so much harder to do this when you are thinking about the family. You will need to get everyone on board with the idea that from now on, there will only be positive actions. You will find that this will only work if you get everyone involved with this idea. You will want to sit down and have a few family discussions so that you can bring the family closer. Write out on a note pad all the things that you DON’T want, and then replace them with what you DO want. You must do this immediately. By knowing what you don’t want, it is easier to establish what you do want.

If you would like to really give the law of attraction a chance in your family, then you will need to get everyone to give this theory a chance.

Decide on a family Goal, then get every member of your family to agree to try to accomplish the that goal. You will have to make sure that there are no conflicts with each other because it will end up tearing the family apart, and that is not positive. You must stop and think about the way the family reacts to the law of attraction theory and you may want to get family counseling involved.

Moving on to the third step is that you all need to act like a family. This means that you will need to put each other first and learn how to share time with each other. You need to start acting like the loving family unit that you were meant to be. You need to all sit down and eat dinner together. Talk at breakfast, work together, spend time together, and you must have plenty of fun and laugh together. Most importantly, though, you MUST think nice thoughts about each other. Once you have taken this step, you are Now on the right track and acting like a proper family Unit should be acting.

You will come to realise that there is a lot to do, and it maybe hard work when it comes to working as a family and it may seem a long way down the road before you have the perfect family unit, if there is such a thing. Persistence is the Key here! You may even want to think about how you can find success as a family, maybe a family business. As you work towards becoming that perfect family unit, you must always be working towards family togetherness and happiness. 85% of all families world wide are classed as dysfunctional, so you are just the average family.

There is a lot to gain from the personal strength that you will get from the law of attraction, but you will also find that this is something that the whole family can benefit from. You will want to make sure that you give yourself some time to think about your energy and the energy of the family. Change all negativity into positive energy, and you are half way there. Remember to persist, DON’T Give up!

How to Overcome Family Quarrels, Tensions and Stress With God on Your Side

One of the biggest problems none of us can avoid in our lives is that of family disputes. This comes in unprecedented waves from all directions whether in arguments, disagreements or just the mere fact that time and again we cannot stand one another. The worst part of all of this is the fact that we are related and yet we don’t get along. There is no doubt that this would happen at sometime in our livelihood whether we are born into a family or find one. The fact remains that it is something we have to deal with. Below are two key factors to take into consideration during these times to help us cope with this.

Who is our family?
The most important aspect in dealing with family issues is first understanding who we consider as our family. In the bible it is written: ‘Then said one unto him, Behold, thy mother and thy brethren stand without, desiring to speak with thee. But he answered and said unto him that told him, Who is my mother? And who are my brethren? And he stretched forth his hand toward his disciples, and said, Behold my mother and my Brethren! For whosoever shall do the will of my father which is in heaven, the same is my brother, and sister and mother.’ This statement is the basis for dealing with family issues. Most of the time these issues stem from a conflict of interest between loyalty and a misinterpretation of what is correct and what isn’t. Usually when it comes to family the unspoken truth is to place loyalty above what is correct. If we go against this standard then we have a disagreement. Family is not only restricted to bloodline. Family starts from doing the will of God. If any of us is going against this and claiming to be family then we have every right to tell them the truth. Deceiving ourselves and relying solely upon loyalty over what is correct would eventually cause greater harm. Correcting a family member or being corrected yourself should always stem from this basis. It is better to stand in righteousness before the Lord than to stand in loyalty before man. The rewards that man can offer us will never surpass that of God.

What is the purpose of our family?
Apart from the obvious reason that having a relation with someone else means we are not alone on earth, family are there to support us in anyway possible. However because they are family the support we receive doesn’t necessarily depend on their loyalty to us, here we must reference the question above – who is family. In the bible, in the book of Proverbs we are taught: ‘A friend loveth at all time, and a brother is born for adversity.’ This explains the difference in the relationship between that of a family member and one who isn’t. Family believes that if they are a part of us then they have certain say in our livelihood. However this ‘say’ doesn’t always come across in the way we desire. On the other hand friendship has its own boundaries and hence there is generally a certain boundary in friendship that is rarely crossed. With this in mind we must know before hand why we would have more arguments with family and fewer with friends.

If we know who our family is by understanding whether they represent the will of God at the particular time of confrontation and what purpose they serve, meaning it is more likely for us to have an argument with them than anyone else then we would be in a better position to deal with a family disagreement. We shouldn’t be overwhelmed in distress during these times because we should understand that these problems come with being part of a family.

Vacation Apartments – Rental Recommendations

If you are planning your holidays in Paris with your family, apartment would be the most ideal accommodation for your trip. It is spacious and it is able to accommodate all your family members, unlike hotels.

It is known worldwide that Paris is a famous tourist spot. As the capital of France, it is the political, cultural, fashion and business center of the world. No doubt, Paris is a place worth visiting with its perfect weather, strategic location, numerous attractions and natural surroundings. One important consideration if you are travelling with your family is you need a spacious accommodation. Apartment will be the best option and I would like to share with you about the Paris vacation apartment rental suitable for your trip.

The first place in my recommendation list is Princess Grace. This apartment consists of four bedrooms and a complete kitchen. Other facilities like towels, televisions, internet access and DVD player will make your vacation an even enjoyable one. The apartment is located near to all the main attractions in Paris hence it will definitely be convenient staying here.

The next apartment is called Sancerre. It is located near to the river bank of Seine River. You can easily travel to street markets and famous restaurants in Paris as they are just around the corner. With large bed and beautiful view of Paris during the day and night, this apartment will be best for couples on honeymoon.

Besides that, Cognac apartment is one of the top recommendations of Paris vacation apartment rental as well. It is a studio apartment located at the sixth floor of the building, making the view of Eiffel Tower just right at the spot. With two large bedrooms and well equipped kitchen, it is very suitable for families. Similar to Princess Grace, the other facilities provided will make your vacation a wonderful one.

Last but not least, the five-star vacation apartment Hermitage will give you the best moment in Paris ever. It is a luxurious apartment with king sized beds and high quality furniture. The decoration is very unique and it gives a high class feel during your stay. Other kitchen facilities like refrigerator, toaster and coffee maker will make your holiday a pleasant one.

What To Look For In Ibiza Holiday Apartments

One of the most popular options for holidaymakers in Ibiza is to rent a self-catering apartment. Self-catering gives you the freedom to forge your own holiday away from the constraints of a hotel. Here we’ll take a look at some of the most important things to consider when booking a holiday apartment in Ibiza.

Location

Location is very important in Ibiza and will determine the type of holiday you will have. If you’re looking for a lively party atmosphere you should opt for a holiday apartment in one of Ibiza’s party resorts- San Antonio and Playa D’en Bossa are the most popular.

For families apartments in the north and north-east costs of the island will probably be more suitable. Santa Eulalia and Es Cana are popular resorts for holidaymakers with families in Ibiza.

Facilities

Ibiza apartments really can range from the very, very basic to the luxury end of the market. Price will be the biggest indicator of what you can expect in terms of facilities, furnishings and comfort.

Expect most holiday apartments to include some basic cooking facilities, a kitchen area and a fridge. In reality many holiday apartments which fall below a 3 star rating are likely to have very limited cooking facilities and often won’t have pots and pans. As most holidaymakers who opt for this budget apartment option are unlikely to cook it rarely causes a problem. Check out reviews of your apartment online before you go to get a candid view of the quality of facilities available.

Work or play?

There are a number of apartment blocks in San Antonio designed for season workers. These tend to be low cost options and are often fairly unappealing cosmetically. They serve a purpose however and home the army of summer workers who head to the island each season. Holidaymakers who are visiting for a week or two will probably want to avoid these apartment blocks.

Ibiza apartments, why not?

As with most Mediterranean holiday resorts there’s plenty of choices when it comes to accommodation and you should decide if a holiday apartment in Ibiza really is the best option for you before you book. There are plenty of cheap hotels in Ibiza which offer all inclusive or full board packages at a reasonable cost which include much of your food and drink in the cost of the room, leaving you more spending money for the clubs or water park!

Villa rental is another popular option in Ibiza as there is a plethora of reasonably priced villas to rent in the countryside and around the outskirts of the main resort towns. The advantages of villas over holiday apartments in Ibiza is more space and usually better cooking facilities, including a BBQ- making it an affordable choice for family holidays.

Milton Keynes Apartments

Milton Keynes is small provincial town near Buckinghamshire in the south of London. The situation of this town makes it liable for a lot of tourists and visitors who want to settle here. The place is scarcely populated; therefore, accommodation is cheaper here as the government wants to encourage more people to settle here. Thus this place has become the latest attraction for the public in general and that too for all age groups.

Whenever one feels the need of finding accommodation in a town or city, one has to have a thorough knowledge of the options that are available. In case of apartments, one needs to look for the property dealers and their proposals regarding all opportunities throughout the town. They will guide you through the best available apartments and tell you about all the necessary equipments and accessories.

The apartments often desired are of at least two bedrooms, one lounge and one kitchen. In additional cases, the apartment can have a studio, a garage or a side patio if available. These side links will obviously cost you more than the usual rates. Thus, you can look into your choice of apartments according to your required needs. This means that your family structure and number will decide the kind of apartment you want to have.

The best way to find a suitable apartment is to consult a property advisor in Milton Keynes who is living there for quite some time and knows every nook and corner of the town. The advisor must be equipped with all the famous and remote places within the town of Milton Keynes.

You can also look for the advertisements that are given in the newspapers regarding the need of tenants or buyers of apartments. The advertisements have complete details of the places that are being sold and you can check out whether you want them or not. This will give you an idea of the ground realities as there are pictures of the places that are being rented out or sold in the advertisements.

There is an option of going to places and visiting them yourself. A good survey will help you learn a lot about the availability of the apartments and their rents. One must visit the high profile areas in Milton Myers and the economical and low level places. A thorough survey will never go to waste; thus this is extremely recommendable when you are looking for an apartment in Milton Myers.

The maps or the internet guides available on the relevant websites can also assist you in finding a suitable family apartment for you and your family. You will be given all the necessary details along with some nice insight and detailed pictures. The rates of the rent/sale are also clearly defined on the online advertisements.

Thus, in this way you can find a very adjustable and perfect apartment in Milton Keynes. Your accommodation will become very comfortable and luxurious, while you stay at Milton Myers.

Real Estate Investing In Multi-Family Apartments

Some investors find investing in multi-family apartments rewarding as they yield more long-term returns. An average individual investor cannot invest in multi-family apartments by himself; they make use of specialized REIT’S to do it for them or form a partnership with an experienced associate as it takes up time and needs an experienced person to see to the due-diligence, to take control and manage the property wisely.

Tips on How to Invest In Multi-Family Apartments:

It is necessary to identify a stable, profitable multi-family apartment, have a good idea of the local market and the have the ability to estimate the land value as well as the building value properly.

It is essential to make a financial as well as marketing analysis of the property.

Present a well thought out irresistible offer to the seller once you have made sure the necessary finances are in order.

Proceed with the due diligence and not be satisfied until you have studied in detail every document relating to the building and the maintenance of its equipments etc. The title deeds, tax returns of last 3 years if possible, insurance policies, financial records, information of any existing liens, all leases and all contracts for equipment maintenance, parking lot contracts, all utility bills, fire systems, litigation history, tenant and associated problem records etc. will be appraised. Engineering inspection, environmental inspection etc. will be conducted on site.

Have an attorney study all the documents and explain them to you.

Once the due diligence matters have been cleared it is time to bargain for as low a price as possible and legally purchase the property if it suits your needs and seems a profitable venture.

Try, and get a triple net multi-family apartment, as it could be a hassle-free investment as the owner just has to receive monthly rental checks and does not have to worry about maintenance etc. as the tenants are in charge of that!

People like investing in multi-family apartments because of increased cash flow, competition is less, if indeed you are in charge of maintenance because of the big cash flow it will be easier to hire a manger to take care of the property and deal with its problems. Multi-family apartments are also in demand because the property appreciates better than a single-family property. Some creative real state investors make fortunes rehabbing run down condos and giving them a face-lift! Thus, multi-family apartments are ideal suited for those who have large sums of money on hand to buy and invest in high yielding properties. They should have the expertise to deal with tenants and collecting rents on time and know what action to take incase the tenant defaults on payments.

There are firms offering products as well as services to help run businesses successfully.