Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 5 years ago,

User Stats

8
Posts
0
Votes
Jessica Bobo
0
Votes |
8
Posts

Thoughts on spending $200k for a 1 bedroom condo in DC

Jessica Bobo
Posted

Hi All. This is my first time posting here, but I read often. I live in DC and own 2 properties. One is a SFH that I use as my primary residence (about $200k in equity) and a 2/1 condo that I rent out for about $600/mo income after mortgage and taxes etc. I used some of the equity from my SFH to make the down payment on the condo (the $600 includes me paying myself back).

I recently came across a 1/1 condo near capital hill. It's $195k which is really low for the neighborhood. I can expect to get between 2,200 and 2,500 per month in rent. I'll be using some equity for the down payment if I move forward. But my question is, is it unwise to spend so much on one unit? My first investment property was $130k. But numbers that low are very hard to find in DC. I don't invest in MD or VA and don't really have a desire to. I would consider out of state but have been apprehensive. Just want to hear from some seasoned investors.

Thanks!

Loading replies...