Quote: (08-30-2011 05:47 AM)username Wrote:
I have been looking at property recently as well. I've been searching the various real estate sites and haven't seen too much that fits my description. Are you guys looking at commercial or residential properties?
In my opinion residential properties are too much of a pain in the ass and I've heard way too many horror stories. To deal with residential properties you most often need to be in the area which is a no go for me. Even with a property manager there will be a lot of shit to put up with the residential tenants (numerous repairs, broken appliances, tenants not paying rent, vandalism, liability, dirty tenants, loud tenants, increasing government regulation on rentals, and more).
I am leaning towards buying commercial properties, fill them with small businesses/tenants, and then handing them off to a property manager. The properties I am looking at are pretty cheap so I can afford to way under price the monthly rent to fill the property up quickly.
I haven't locked into any yet and I am still exploring my options.
I'm looking at residential multi-family (2-4 unit) deals. I like commercial, however capital requirements are higher and they are a bit more difficult to rent out than residential properties.
You are right about residential property issues with the tenants, but its bread and butter investing. I am targeting New England so I'll be within driving distance.