Good Or Bad.
I am about to close on a small condo.
Including mortage, taxes,insurance and condo fee the monthly outlay is about $800.00
I can only get $850/$900 rent per Mo.
Upside is appreciation is 20%-25% year.
This is my first deal. I think it is an ok deal?
Any comments? Good or bad. And especially and critical comments are very welcome. I Need to learn as much as I can. Thanks in advance!
Positive cashflow is positive cashflow. Just find 50 like this one and you are in business!
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Where is this condo located? 20-25% appreciation is great. That is what we have been getting here in CA. Great deal if you will get that much appreciation.
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We are here in the Shenandoah Valley in Virginia. Just off I 81 between Winchester Va and Harrisonburg Va.
The name of my little town is Woodstock. It is a very very hot real estate area. Houses are growing up everywhere and expensive. And good opportunities are hard to find. But condos seem like the best deals. If you can find one.
www.Hoober.Thanks for your comment. And you are exactly right.
I do have the cash to carry this along even with any of the developments you suggest.
I am really just getting someone to pay the mortgage (or most of it) while it appreciates. I have looked at this thing every way I can think of and I am pretty sure I can make a few dollars on this deal. At least I am hopeful I can...Thanks again!
Regardless, you are taking the first step and learning everyday.
again good luck!!