Elder and Sister Gerber Mission

The question I get most often is "Should I buy an Apartment?" Even my kids asked me that. And the answer I give is ...it depends. Here are some questions that you should ask yourself.
1. Can you be tough if someone breaks the rules or are late paying thier rent.
2. Have you done the proper research on the property. A. Does it Cash Flow? B. Why is it being sold? C. Does it have a good rental history? D. Have you talked to the neighbors? E. How does the rent compare to other apartments in the area that stay rented for a minumium of one year? F. Are there any city code violations? G. Have done a survey of the renters? H. What do the utilities run? I. Have you checked the electrical and plumbing and heating? There are a number more I will go through later.
3. Do you intend to be a landlord for the rest of your life?
4. How will the tax laws effect you?
5. Do you have the skills to fix minor repairs? Can you fix a leaky faucet? Can you paint and clean? Can you clean a clogged drain?
6. Do you have money to fix problems that may arise soon after you buy the property before you have time to start saving money?
For more see my website. http://wwww.scattergenius.com