DisneyCane
Well-Known Member
Another problem is the issue of greedlords in the Central Fla area charging ridiculous rents for housing...just because they can. A pretty low thing to do in an area where most workers are making service industry wages. You can easily run a 20+ unit apartment complex which charges $450 to $500 per month per unit...and live large...very large. Yet we all know Central Fla rents are nowhere near that ballpark.
Can you please share the numbers that allow somebody to easily run a 20+ unit apartment complex and charge $500 per month and "live large...very large?" You do realize that there are costs involved in running an apartment complex, don't you? All the rent doesn't go to the landlord as profit.
There is a mortgage to pay for the cost of building the complex. There are property taxes and insurance. There are repairs and maintenance. Then there are the people that don't pay the rent and need to be evicted in a long drawn out process. I'd be shocked if the profit margin on an apartment complex was even 30%. If you think $36,000 a year is living large (and that's a high estimate) then there are a lot of teachers doing VERY well!
I'd really like to know about this business plan so that I can get in on the apartment complex business.
What somebody charges for rent is supply and demand also just like real estate sales. Is it a low thing to do to sell a house for $200,000 in Orlando if the exact same house with the same size property was $125,000 in Immokalee?