1/1 Hollywood FL

[Osvaldo Valdes]

I would be a first time homebuyer but want my first property to be a future rental property in the future.

My friend knew I am looking to buy and told me he is selling one of his investment property and told me before he put it on the

I am starting out to look for my first RE purchase. I plan to live in it for a while and then eventually keep it as a rental property. My friend who owns a few properties knew about me looking and told me he plans to sell his 1/1 but wants to know if I am interested in it before he lists it. He has had it for 10+ years but wants to sell it to use the equity towards other business ventures. He said he can work with me on the price if I want to buy it because it will save him money in listing & closing fees. He plans to list it at appraised price. Its turn key but could use an update in the bathroom.

Selling Price: 60,000-70,000

Current Rent: $750/month (He says I could possibly get $800)

Annual Taxes: $1,200

HOA Fees: $230/mth

Property Details: 1/1 2nd Floor Apartment 600sqft

I want to know if this sounds like a good deal as a future rental property (approx 2 yrs)?