Investment in a condominium in Bridgeport Ct.

[Ali Syed]

I'm thinking of investing in a 2 bed, 3 bath condominium in Bridgeport, Ct. The asking price is $175,000. The HOA fees are $150/mon, Taxes $300/mon. Most similar properties in the area have been leased for between $1500 to 1700. The property was built around 2007. Its in very good shape.

My plan is to put 25% down. 

What do others here think of this as an investment opportunity?

[Craig Bellot]

@Mian Rizwan yes it’s possible to do negative gearing however you need to have the cash to support it for 20 years.

It’s also a bit of a speculative gamble as you do not know if the appreciation will be what you want.  Especially in a market like Bridgeport Connecticut where the appreciation is not guaranteed.

Also, because of a life change you may need to sell early, and at a potential loss.

You are 1 major repair or major vacancy away from loosing your gains.  

That’s not really a ‘good’ deal in my opinion.