Larger apartment buildings (with 5 units or more) offer the following distinct advantages over smaller buildings:
1) CONSOLIDATION -- If you own nine units in three separate triplexes (for example), you'll have 3 separate roofs, 3 backyards, 3 front doors, 3 driveways, and so on to maintain. It's often much easier to have all nine units under one roof.
2) PROPERTY MANAGEMENT -- There are economies of scale when you own larger buildings. Using the previous example, you or your property manager could visit everything in one trip -- seeing all nine units at once rather than having to drive to three different locations to inspect the same number of apartments. Also, as a percentage of rental income, professional management for larger properties tends to cost less. A triplex might cost you 8 to 10 percent of gross income, while a 50-unit building might cost you only 4 percent.
3) VACANCIES -- One vacancy in a ten-unit building equates to a 10 percent vacancy rate. One vacancy in a three-unit building equates to a 33 percent vacancy (or more than three times as much as for the larger property).
Why do you want to own apartment buildings? I suspect that one or more of the following reasons may be a motivating factor:
1) Greater financial security
2) More disposable income
3) More vocational flexibility
4) Building a higher net worth
5) More fun and freedom in your life
6) Increased financial independence
7) Less dependence on your day job
8) Greater entrepreneurial challenges
9) More control of your personal and financial future
10) More free time to spend with your family
All of the above aims can be achieved in a reasonable time frame by investing wisely in apartment buildings. In our opinion... there is no surer way to create a reliable stream of income and to build long term wealth than to buy and hold apartment buildings.
When you contact us by completing the form below you can gain access to our expert analysis of the following types of apartment buildings in Hamilton and the Niagara Region through our VIP Buyer Client Service:
1) apartment buildings with 5 to 8 units (38 are currently available for sale now);
2) apartment buildings with 9 to 12 units (9 are currently available for sale now); and,
3) apartment buildings with over 12 units (7 are currently available for sale now).
In order to gain access to our many years of local experience and expert analysis of apartment buildings for sale in the Niagara Region (including access to some "Exclusive" and "Off Market" opportunities... and urgent UPDATES of new listings available for sale), simply complete the form below: