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Updated about 5 hours ago on . Most recent reply
Advice on acquiring second condo - first one free and clear
Hello and thrilled to join BiggerPockets to learn and grow my investment.
New investor with one condo valued at 350k own it free and clear producing 2,500k monthly rent with total monthly expenses of 845. I have an extra 320k to spend all cash and looking for suggestions on strategy, method, financing advice on how to acquire the second condo whilst no going broke, whilst also starting to build more wealth. FYI this is my second career - retired and now 63.
Thanks.
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#2 Commercial Real Estate Investing Contributor
- Real Estate Agent
- Columbus OH
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#2 Commercial Real Estate Investing Contributor
- Real Estate Agent
- Columbus OH
would need to understand much more to give any kind of advice, but congrats on the first investment, that sounds like a solid deal!
Having 320K to deploy is a strong place to be in. just curious where your focus on condos come from? Its clearly working so curious how you came to that strategy?
Just curious the end goal is? growth of that capitol? monthly income? tax advantages? depending on your priorities you could do just about anything.
- Michael K Gallagher
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- 614-362-2231