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Chương 5 Thành lập vị trí của bạn và định vị tài sản Chương 6 Sáu cách để định vị tài sản | CHAPTER 5 Success is not measured by what a man accomplishes but by the opposition he has encountered and the courage with which he has maintained the struggle against overwhelming odds. CHARLES LINDBERGH Establishing Your Niche and Locating Properties T he preceding chapter discusses the merits of the value play. This chapter examines some important concepts to consider prior to the deployment of your acquisition campaign. You must first determine your niche in the marketplace by analyzing key factors regarding the type of property you are seeking. Once you have defined exactly what type of property you are looking for you will be ready to embark on locating the property best suited to your needs. 69 THE COMPLETE GUIDE TO BUYING AND SELLING APARTMENT BUILDINGS Establishing Your Niche Before you begin your search for an apartment complex you must first define your niche in the marketplace. There are four crucial factors to consider 1. The resources available to work with. 2. The size of the property. 3. The age of the property. 4. Your holding period. It goes without saying that there is some crossover among these factors. For instance the more capital you have to work with the larger and more expensive a property you can acquire. One is not necessarily a function of the other though. Just because you have a large pool of capital to draw from does not mean that you have to buy a larger property. Let us examine each factor in more detail. Availability of Resources Obviously the amount of capital you have available for real estate investments is a key factor in establishing your niche. The more you have to work with the greater your choices are. In general loan-to-value LTV financing of 80 percent is readily obtainable. If you had 100 000 to invest and procured an 80 percent loan you could buy a 500 000 apartment building. With that same 100 000 you could acquire a 750 000 complex with an 85 percent loan or a 1 million building with a 90 percent loan. In my .
