30 Year Mortgage?
Thirty year mort. too long to take on new construction.? I have seen some post that say never do over 20 years..
Thirty year mort. too long to take on new construction.? I have seen some post that say never do over 20 years..
No one can answer this for you. Of course the longer the amortization, the more interest you pay. It is cheapest to pay cash for a property but that doesn't mean you'll make the most money.
If you can have 10 rentals making $250/mo each (after mortgages) vs 2 rentals making $900/mo each (no mortgages), you'll make $700/mo more by having mortgages.
If you are talking in terms of your personal residence, this also depends on your goals. Would you rather have the extra cash laying around each month to spend on toys or entertainment or live cheaper now to have more money later.
GOOD LUCK in your decision.
well i'll try...first, do a search here there may be articles that will help. second, do a google search for a "real estate investment club " in your area & join it ...these are generally good contact points. third, get in on your property search site & look specifically for multi property...then do your calling or snail mail to the owners...good luck...CWal
A really good commercial broker can help you out a lot here. People with apartment buildings for sale fequently like to keep a relatively low profile so they don't spook the tenants. So they list the property with a broker so that they get access to the market place without signs, etc.
Ask around, find somebody who specializes in this type of property.
TCI is a site I am currently using. Tons of listings.
i personally like www.apartments.com also www.apartmentguide.com both really informational