Real quick update
May 30th, 2008 by KenricShort post today. Apartment #2 closed yesterday!!! Only thing negative was that interest rates crept up from below 6% to 6.35% by the time we lock. 0.0035% is huge when you are borrowing $10 million. That will cut into our cashflow numbers by about $3,000 a month.
Posted in Apartments | 
Stumble it!
Congratulations!
So are you doing this for cashflow or appreciation or maybe both?
It seems that if it is cash you have sitting around either way is fine, but if you borrow it must be for cashflow to ensure your costs are covered. I’ve been reluctant to use a line of creidt on my house for that reason…
By Cynthia on May 31, 2008
This particular apartment is more of a cashflow play than a forced appreciation one.
By Kenric on May 31, 2008