Fort Lauderdale BP members, I need your help!

[Claire Batraville]

My brother and I  are looking to purchase a house in Fort Lauderdale or surrounding areas. My mother will be our tenant. We would love a town house that contain 2 or more bedrooms with a 2 car garage. We would like to purchase something between 50-70 thousand dollars or less if possible. We have about $35,000 to put toward the house and would like to pay it off in the next 5 years. We want to do as little work in the house as possible. We do not want to do a rehab. I have contacted a few agents but would love to hear from some of you who are very familiar with the market. How realistic is this plan? what should I be asking/ looking for when choosing an agent? Is there a better route or way of getting what I am looking for? all suggestions are welcome since I am a fairly new investor. Thanks in advance. 

[Andrew Davis]

Hey @Claire Batraville, I would definitely agree with @Lucas Machado.

I'm sure you can find condo's in that price range, but you'll want to make sure your agent is doing good due diligence:

You'll want to see: the condo budget, any planned HOA fee increases or assessments, upcoming improvements, delinquency ratio, etc... Basically you want to be sure that the association is doing a decent job of managing the property, otherwise you could be in for a very unpleasant surprise in the form of a drastic increase in your monthly fees or a costly assessment.