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Updated almost 5 years ago on . Most recent reply
Is this a good first investment property?
I made an offer that was accepted on 407 Cambridge in Worcester. It is new construction. I got it for 250k. I have a partner who is investing with me. We are doing 25% down total on a 15 year mortgage. We both live out of state. This is my first property. I was told I can rent it out for $2000 by my realtor. He showed me other units that were completed in this complex that were rented out for $1950 and $2000. A 15 year mortgage with HOA & property taxes gets me to approximately $1780 monthly expense. I live in NJ and was not finding anything like this near me. Would greatly appreciate feedback!
Most Popular Reply
@Jaysen Medhurst thank you so much for your advice. I went ahead and pulled out of the deal. Very happy I downloaded this app and was able to connect with you. Will be reading everything on this app to learn as much as possible before setting up another move.