AskI’d like to diversify my investments and like to start apartment or condo rental. But whenever I think that investing in stocks is simplier and can be done in the comfort of my bedroom plus has the potential of better gains in the long term, I can’t push through. I also hear from others that rental business has a lot of headaches such as non payment/delayed payment of rentals, repairs & maintenance, bad attitude of renters etc. The only consolation why I want to be in the rental business is because its fulfilling to look at the rows of apartment that we build & worked hard for. Unlike stocks which is only in the paper. Buying condo and renting it out has less headache because they have Property Management Office that takes care of rented units. However the monthly rental will be high and will just result to higher vacancy rate. Pls advise
Tags: properties, real estate
One Response to “Is apartment or condo rental business profitable?”
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Everyone I know who’s into property rental is actually profitable – but that doesn’t mean it’s easy. Indeed, there are headaches in property management and you really have to “be in love” with real estate to succeed – which is how the people I know are.
One thing I’ve learned from them – it’s all about location, location, location.
A cliche, but it is that way because it’s true.
My personal suggestion – assess your risk appetite and your available resources. If you can afford it, try it with a small property – a foreclosed one, in my opinion – and see how it all goes.