Apartments for Cheap

Questions and Answers

Your Questions About Apartment Complex Plans

June 27, 2013

David asks…

HOW can i find out WHICH collection agency i owe when the apartment complex that reported me wont tell me?

I haven’t received any collection calls because i changed my phone number.
i need an answer asap because im trying to move to another apartment . and the notice for this apartment ends on 8/31 . I got to get a payment plan set up and proof of that in writing or my future apartments wont approve me to move in! Please help

Administrator answers:

You don’t need the collection agency. Call the apartment complex and pay them the money. Work it out directly with them.

Thomas asks…

What’s the best apartment complex in Anaheim, Buena Park, and Fullerton?

Also what are the rent ranges? My fiancee, my daughter and I are planning to move in March please help me with some good neighborhoods?

Administrator answers:

There are plenty of decent apartments but there are also quite a few great rentals through private owners. In many cases, private rentals are larger. It really depends on what your needs are going to be. If you need more help, I can definitely assist you. I’m a Realtor in the Fullerton area and I work for a great office. You can contact me through my website for more information.

By the way, rent ranges are quite varied in this area due to the many different neighborhoods. My best advice is to go for the best neighborhood you can afford.

Steven asks…

I want to buy an apartment complex. What are my financing options?

I don’t have anything to put down. I was told that I would need to put down at least 20% which would be $100k for the property I am interested in. If the seller is is willing to finance the 20% would the banks allow me to finance the property this way? Or could I do a business plan to get a bank to finance the entire purchase?

Administrator answers:

Any legitimate bank will research your finances and find out that you are not putting up your own money for the financing. That will probably scare them off. I doubt any legitimate bank would finance the whole amount for any reason. Too much danger of losing a lot of money. If they did that then you are not really on the hook for much. If the deal fell thru you could walk away and not lose too much. Your credit would be ripped to shreds but lots of people do not care about that. Sure, the bank takes the property but that is really no skin off of your back because you did not own it before. Now, the bank is stuck with a property that they have to unload. They usually lose money when they foreclose. However, they have to foreclose and cut the losses there. Banks have been burned too much by financing 100%.

The type of lender that will finance 100% are the types who are trying to rip you off in one way or another. Some will set you up with a big interest rate. Some will hit you with a ton of fees and penalties and so forth. They have a shopping list of stuff that will cost you money.

I would be really afraid if the current owner tries to influence you to go to a particular lender or bank. That would be a pretty good sign you are walking into a scam. There are some property owners who do this on a regular basis. They lure someone in to buy and arrange the financing themselves or thru an agent they are in league with. They soak up as much money as they can and take the place back after awhile when the person falls behind on payments. Of course the person will fall behind the payments because these guys set up that way. Payments that are too high or a balloon payment or something. These guys end up with the money and the property. They then go and look for another victim. The sad part is they are legal enough for most authorities to not care.

Mary asks…

I’m currently planning on moving to Austin, TX can anyone tell me a good apartment complex in downtown?

Administrator answers:

You have too many choices.

Something for everyone’s taste and budget.

My first apartment was on guad and 46.

Aspenwood

cheap as hell and I had a great time.

You’ll have more options near campus.

Mark asks…

apartment complex and credit check?

okay so im planning on movin into an apartment complex in a different state this summer. i dont have credit tho so do they have to do a credit check? or like wut cause i know other people who have just turned 18 and they moved into apartment complexes. but i never asked them soo any help please? thanx :]

Administrator answers:

They do credit checks. Try going to a department store & getting a credit card. It builds credit quickly.

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