Condo - Sell or rent

[Erik Schilling]

Hey BP, Happy New Year! I checked a bucket list item off the list in November and purchased my first seller financing deal. I know condos get some bad publicity ( in some cases it's true), but I've had great success with them so far. So, I've acquired the condo (1/1) in an A neighborhood for 50k. If I put about 10k into it, according to my agent, comps are going for 110-125k. This would probably happen in May / June, so there are a few months of mortgage and HOA fees to go along with that 10k of updates. I also have a renter lined up (nothing signed, just that he would be interested if still available) for 1200 per month. This would give me about 500 in profit each month. This option can help with avoiding capital gains and after 2016 (I was busy with real estate), this would be an "easy" one to manage. Also been hearing that now would be a good time to be cash heavy due to economic / political climates. What would you do?