In other words is Investing in apartments a good way to get rich?
2006-09-05 11:33:11 · 6 answers · asked by . . 1 in Business & Finance ➔ Investing
OR IS THERE BETTER AND EASIER WAYS TO GET RICH? thanx for your knowledge.
2006-09-05 11:34:05 · update #1
The rate of return on a cd would be about 5 percent but the rate of return on apartment building can be closer to 15 percent.Figure your gross rent for year on all apartments then subtract 25 percent for possible vacancies during the year.Lets say you have 20 apartments earning 400 a month times 12 months equals 96000. less the 25 percent equals 72000.take the 72000.that you earned divide buy the cost of 500,000 and you earned 14.4percent on your invested capital.
2006-09-05 13:02:18 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If you're starting with nothing, I think the quickest route is to work your way up in Wallstreet and become a stock broker, then when you have a lot of money start buying and selling properties. You don't need college if you go this route, but it might help to study business if you plan to actually run a business some day. You can start at the stock exchange right out of high school.
2016-03-26 23:27:05 · answer #2 · answered by ? 4 · 0⤊ 0⤋
The faster you try to get rich, the greater the risk.
Best idea is probably to see a financial counselor and get a very diverse portfolio with a balance of many investments, so if one tanks, you don't go broke.
2006-09-05 11:35:58 · answer #3 · answered by a_blue_grey_mist 7 · 0⤊ 0⤋
I wouldent invest in apartments I would invest in forecloser houses,buy them fix them up and resell them.
2006-09-05 11:42:39 · answer #4 · answered by Crystal Y 2 · 0⤊ 0⤋
If you do, wait till the next resession when prices will be at their lowest and then refinance when intrest rates are lowered.
2006-09-05 12:08:46 · answer #5 · answered by gregory_dittman 7 · 0⤊ 0⤋
read more on investing and real estate on this site
2006-09-05 11:35:22 · answer #6 · answered by Anonymous · 0⤊ 0⤋