Profile picture for samsam1

Condo purchase

I am in the market for a rentable condo unit. I have about 10k and wanted to spend around 50/60k. Is there somethings i would need to know about becoming a landlord and or if this is a proper investment for a lil extra income?
  • December 12 2011 - US
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Answers (3)

If you can come up with a few thousand more, you can purchase a fully-rehabbed single-family home that will produce $200-$300 per month in positive cash flow with conventional financing.

Feel free to visit our website, or contact us for more information.

Continued success!
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  • December 12 2011
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Profile picture for billkruck
There are certainly numerous dynamics associated with ownership of a condominium unit for rental purposes.
Foremost, you must include the additional expenses related to ownership, especially Condo/Homeowner's Fees, Maintenance Fees/Costs, Taxes & Insurance.  These fees can be very high with a condo.
However, if you can rent for the right dollar, and keep your expenses at a minimum, it can be a safe form of extra income, especially in this market.
Good luck!
  • December 12 2011
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Profile picture for Juan A Pineda
Iyou are new as a landlord a condo is easy to manage if it is located in a well manage condo association, the down side is if the building have many empty units and they are not collecting any fees the association will not be able to provide any services.
  • December 12 2011
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