Updated almost 9 years ago on . Most recent reply
Should I pull the trigger?
There is a condo located about an hour from me listed for $60k that looks in rentable shape. Taxes are $3,200 based off of a $110,000 assessment. Condo fees are $200 a month. I am currently house hacking a fourplex and deals are hard to come by. I believe I can get a 30 year 5.25% loan. Rent $1,000. I just don't know how to calculate the numbers well. The market is a little rough there but I have heard that nice places rent. Should I be taking the risk on a low cashflowing property like this? I do like that condo association handles a lot of the issues.