# Buying a small apartment block



## Addy (Mar 12, 2010)

I'm not seriously considering this, but I am giving it a bit of thought yet I have no clue where to start looking nor what to consider yet.

Has anyone here purchased a small apartment block as an income investment?

My thoughts are perhaps a small building in a smaller university town/city such as Fredericton. Any advice?


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## m3s (Apr 3, 2010)

I looked into this myself but with all the fees, taxes, expenses, maintenance, vacancy etc it's just so much easier to invest somewhere else. Stocks for example are more flexible, less fees, easier to diversify etc

Unless you have the capital and the time/skills to fix things yourself, I personally don't see the point doing it as a casual/amateur thing

I was going to buy an apartment block near a University with 2 friends. Two of us had the capital and 1 had the time/maintenance skills. More I looked into it the more I realized I'm better with stocks

I'm from NB and all my friends/family went to UNB Freddy. They would rent a house with a bunch of kids and destroy the place. Seems like the market is pretty well covered in Freddy too

I know there was that article about NB having the cheap houses compared to salaries, but I don't think that applies to rental profitability around the Unis. You'd probably pay a premium for a trashed old house. On the flip side you can probably charge a premium for rent and never fix a thing.

I'd rather buy a REIT


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## Berubeland (Sep 6, 2009)

If you are interested in buying income property I would suggest reading this book first.

Real Estate Investing in Canada: Creating Wealth with the ACRE System by Don Campbell

There is some really great information in there as well as lots of advertising the Real Estate Investment Network.


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## 72camaross (Apr 26, 2010)

Addy, mode3sour, 
I am also in NB. Did my tour of UNB Freddy too haha and I'm looking at something similar but more student housing. Probably have to have a partner for it but I'm looking forward to the task. (fingers crossed)
Where could I find what I'm looking at for fees/taxes/insurance for student rentals anyway? I'm sure it can't be pretty so I'd like to find out.



Berubeland said:


> If you are interested in buying income property I would suggest reading this book first.
> 
> Real Estate Investing in Canada: Creating Wealth with the ACRE System by Don Campbell
> 
> There is some really great information in there as well as lots of advertising the Real Estate Investment Network.


Just finished that book. It is a really good read and gives you some good points to start from.


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