I have decided that I am ready to go back in to real estate. I was just lucky not to get caught up in it when the bubble burst the last time. It was a coincidence that I happened to be liquid at the time when the sub prime mortgage crisis hit. I had sold off some rental houses. I had nine of them in all at the peak and at the time I had only two, which happened to be the best properties. I got a good price, plan was to form a partnership on Portland apartments. If things had gone the way that I had it planned I would have already done it and it would have been a little bit of a disaster. It would not have been a huge loss, that would not have happened. However the value of the apartments would have been much less than I paid and it would have been impossible to move them with taking a loss.
Right now I think that the price is right on the properties that I am looking at. they are offering me a good price and it looks as though it will be fine even if you do not have full occupancy. That is always the big thing with any investment like this. If you keep it rented then it is all fine and dandy. You have expenses, but they are always covered by your incoming rents. If you have 90 percent full apartments, then that should be fine as well. Anything below that and you have to worry about getting things just right to make good money. The trick is to find the sweet spot, just like Goldilocks. The rent has to be high enough that you can make money and low enough to be attractive to renters.