Newbie educating self on buying a condo as a rental

[Noah Ridlon]

I am looking to purchase my first property with approx $15k in funds. I am focusing on a condo as a buy and hold because 2 reasons.

1. My market is relatively expensive and I would like to try traditional funding with a partner to help with the down payment.

2. Condos in the area I am focusing on are always rented and one of the rooms my brother in-law will rent. I am trying to reduce the risk involved in having the condo completely vacant.

I have been listening to the BP podcast religiously, read rich dad poor dad, notes are 10 plus pages deep, and have been analyzing a few properties in my spare time.

I am looking to build a relationship with a realtor, broker, and or wholesaler in the Murrieta Temecula area to make my first purchase a reality. Also I would love that MLS access to get those auto emails going.

Further, I need guidance on factoring in the “correct” numbers when analyzing properties to get those home run numbers.

Condos are 2b/2b w/attached garage. Approx valued at $230k. HOA fees are $250.