Need input on potential deal in Chicago - please advise!

[Jim Stamas]

I found a property in a very desireable area of Chicago listed for 475k (2 bed 2 bath, 1550 square feet). The HOA is only $200 (which is rare for this area). It is newly renovated but has room for some minor cosmetic improvements. I put this property into the rentalizer and saw that if I were to rent it out, I would likely at least break even. Originally, I wanted to go the multifamily route, but many of them are the same price or more expensive in less desireable areas. Knowing that I can refinance in a year or two when rates come down, would you say this property is worth going for?

Thanks so much!

Jim

[Michael Barnes]

I am totally with John about not building a strategy around rates coming down.