how to buy your first apartment building 

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Many people drop out in the process between having the idea of buying an apartment building and actually making the purchase.

Pros of Apartment Buildings

Multifamily investments can provide passive income to their investors. In addition, they lend themselves to professional property management much better.

Cons of Apartment Buildings

Compared to investing in a single-family home, apartment buildings have a much higher cost of entry. This can be a barrier for many investors who are just starting.

The Steps of Buying an Apartment Building

There are 7 steps to buying an apartment building. Each step has its own process and challenges.

Pre Qualifying

So naturally, lenders will want to know about the specifics of the project before offering you terms.

Shopping the Properties

You might start simply by looking on Loopnet or the MLS and running your own pro forma numbers when shopping properties.