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How much to put in to see profit on Condo investment?

I am thinking about purchasing a 1 bedroom condo for $53,000.  The owner actually has another unit to sell and can do both for $100,000.  Being that this would not be a primary residence and fees being $326 per unit, how much should I consider to put down to see a good profit?  Should I stick to one unit at the moment or does that not make a difference?
  • February 25 2012 - Town of New Paltz
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Answers (1)

You have to do a market analysis of the rent you can collect in your particular locality. Once you know that then you can deduct HOA fees, property taxes, and any upkeep items to determine the profitability of each unit. Also take into account a vacancy factor of 10% to be safe.
  • February 25 2012
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