Teamwork is the Key to Successful Investing in Apartment Buildings

Real estate has proven to be an effective means of reaching a desired lifestyle of comfort. The challenging decision to make is the particular area of real estate to go into. The bottom line is whatever area of real estate you enter the key to success is research, networking and coaching.


It has proven that buying an apartment building with a group of people is far more profitable than purchasing the property alone. Building a solid team is paramount especially on the first or second deal. With a team, the risk is being spread so in the event of financial crisis, the team as a whole will cover the challenge. With a team of multi-talented professionals to share the workload, each partner performs their given task, including bookkeeping, repairs and maintenance, collections, tenant relations and more. Each partner is of the same mindset; they share same goals, therefore, they are all motivated to do quality work as their contribution to the venture.

An important step for the team to consider is financing. The lender will want to see an appraisal on the building, and the business plan that shows income and expense flow. During this investigation period the lender will determine profitability of the investment to be sure the venture covers expenses including mortgage payments, property taxes, insurance, management, maintenance, utilities and repairs. The lender wants to there is enough profit to cover any losses, including vacancies, non-paying tenants, eviction costs, and upcoming repairs and maintenance. The more the cushion that’s left over each month, the less stringent the lender will review the credit worthiness and reserves of the perspective buyers. Simply put, if the investment is not profitable, the lender will not approve the loan. One factor to remember is that when an investor buys an apartment building, they are buying a business. The building must stand on its own financially and create the money to support the business. A great team with a great business plan reduces the lender’s risk concern.

This was taken from an interview between Lance Hood from SuccessInsiders.com and Anthony Chara. For access to Anthony Chara’s teleseminars, go to http://www.successinsiders.com/



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Real Estate, Investment, Teamwork, Success, Purchase Apartment Buildings