Condo

[Ray Ramelli]

Hi All,

I have a chance to purchase a condo for 50K or so for a buy and hold.  Rent is 1200 - condo fees 358 - taxes 170 - insurance ?

I will pay cash to purchase and my prelim cash on cash is around 10%

Sounds like a no brainer but I wanted second opinions. Also - does it make sense to try and BRRR this prop and pull some cash out for the next investment? It seems it would def help the CoC number but obvi lower the net income.

Would a mortgage co. even bother with something this small?

Thanks in advance!