Need Help With Decision

[Lisa Daconta]

Hey guys,

I found a 1500 sf 4/2.5 condo in a good neighborhood that I feel might be a good deal. Here's what I have:

Price: $89,900

Rent: ~$1500

Estimated Rehab:$5,000 (I believe this to be higher than what it needs): already has stainless steel appliances, new carpet, nice wood floors, granite in bathrooms/kitchen, etc...

HOA fees: $432/month

Property Taxes: $60.20/month

Insurance: ~$30-$50/month

Finance: conventional loan with an interest rate ~5%

Property Management: $100/month

Repairs/vacancy: 10%

ARV: ??? (I don't have good data to compare)

I'm new to investing and I have no experience with condos. I estimate a net monthly cash flow of $300-$400/month. What do you guys recommend? Anything helps :)

[Nathan Gesner]

Condos generally don't appreciate as quickly as single-family or multi-family properties.

Condos are sometimes easier to rent because they are low-maintenance but they are sometimes harder to rent because the HOA can be invasive.

HOA dues will always go up.

The value of your property can be affected by the health of the HOA. Get a bad HOA board and the entire community can fall apart.

just a few things to consider.