From his small rented apartment in the New York City's East Village, former advertising executive Joe Fairless, 30, is in the final stages of closing on a $6.8 million apartment building in Ohio.
"I made my first real estate purchase in Dallas in 2009 at the time when the market was perfect for the single-family home and there were a ton of foreclosures," said Fairless, principal of Fairless Investing, who switched from buying single-family homes to investing in apartment complexes last year.
Real estate investors like Fairless are kicking single-family homes to the curb in today's housing market to purchase apartment complexes in areas with low vacancy rates.
Read more...Forget Buying A Single-Family Home: Purchase an Apartment Complex - MainStreet
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