55+ community?

[Brandon Duff]

I live in California, and looking at maybe getting into a 55+ community since it's cheaper than regular housing. Morgage would be around $700-800 Rent would be $1100-130 4% interest Tax $1566 for 2014 HOA $200 Water and sewer is paid ( by the community?) Good idea?

[Curtis Bidwell]

I have just a place in Florida - be glad to sell it to you????! My problem with this is that I have limited my market to only those above the age of 55. I have completely cut out the possibility of anyone between 18-54. It's a lot like buying on a golf course - limited clientelle. While some communities have a high 'desirability', when the economy turns the vacancy rates skyrocket (I went 5 months empty during the downturn and had to drastically drop rent to get renters!). There is also the issue of HOA's. They can be difficult for landlords and specially in 55+ communities.

Your numbers are too tight. Piti + HOA dues doesn't leave you any thing left.