Should I Rent Out My Condo?
I own a condo near a southern california beach community, my mortgage and assoc. fees total roughly $2100 a month, I can lease it out for roughly $2500. I also own a house about 100 miles away , which I will probably semi-retire to. I still would like a place in the city, so I would rent for maybe $1000.00 a month.
My 401K, savings are OK and I have about $375000 in equity in the condo.
Any thoughts?
[ Edited by bilbonds on Date 03/19/2006 ]
If this condo your primary residence. Have you ever lived in it? Wondering if you could sell it and get some of the gain tax free.
IMO, the best pre-foreclosure list you can find come directly from county records. Drawback -- takes way too long to put the list together. So, my second answer would be to find a local data feed. National feeds like the ads all over the net are really too old when compared to what local lists provide. Depending on your market and strategy, data speed can be critical. Locals usually beat national competition by days and even weeks. How does one find local lists? Join your local investment club...they usually advertise in there because data feed companies have very tight margins...as a result, they minimize advertising cost by joining up with local clubs to sell their services. That is where you will find them. HTH.
Best of success~
realtytrac
I use county records research [dot] com here in southern california. They include all the loans on title which is a good pre-screening mechanism to take it to the next step.