This is an excellent time to be thinking of a real estate investment. Local lenders are still lending at excellent rates. You can make 2-4 % on the Bank’s money and 8-10% on your equity. Try that in the stock market right now.
Area banks have plenty of money but want 20-25% down. They are also looking further back at historical operations of the property and may want 2-3 years of statements.
Of all the classes of commercial property Apartments have done the best over the past year and are anticipated to out perform other real estate investments again this year.
Economic downturns create some excellent opportunities. If you shop carefully and are don’t over leverage you can find some excellent investments right now.