I remember learning about the class system in high school. It never sat well with me. How could one person be labeled middle class while another is lower class? Personally, I don’t want any labels placed on me. I want to live life, enjoy the journey, get to know others along the way, and make sure I’m leaving an impact on this earth.
Now, guess how apartments buildings are differentiated? Yep, with a class system. Ha! I suppose labeling apartment buildings is helpful in understanding the different types out there. With apartment buildings, there are four categories: Class A, Class B, Class C and Class D. Yep, not only do they use the word class, the use letter grades……ugh, am I back in history class again?
Class A: these are the most expensive apartment buildings out there. Think the swanky buildings with fancy pools, butlers, shiny gold faucets, sparkling diamonds in the chandeliers……ok, maybe that’s a bit extreme, but you get the picture. Class A demands the highest rents and also tend to be newer (side note, I have never lived in a Class A property, nor do I really want to).
Class B: these are the medium expensive properties. Think middle ground. They are typically well maintained, a little older, and rents are average. They won’t have the bells and whistles of a Class A property, but they are plenty nice and good places to live.
Class C: guess where these are? Yep, they are the lower-end properties. Class C is much older, outdated, and have lower rents than the others. Remember the old adage in school……”C’s get Degrees!”, well, I’m here to tell you that “C’s get monies” (yeah, tried to rhyme, but it didn’t quite work).
Class D: or, the type that must not be named. Consider these apartments to be the worst of the worst. You don’t want to enter because you either fear for your life or struggle with the nasty smell of…….well…..let’s just leave it to your imagination.
So which class do I think is the best? Class C! Finding a good property that needs some love to make it beautiful is so exciting. That’s one of the reasons I enjoy investing in real estate. What can be better than taking a sad property, making it beautiful, and providing a nice place for people to live?