All Forum Posts by: Aleksandra U.

@Jay

There is no repairs needed. It has been redone. As far as other condos around...not much like that around. And I am not planning to sell it anytime soon so would similar condo selling price be a major factor as of now?

It's not my first one. I purchased similar property as a short sale, rented it quickly. No problems so far. You are right as far as C/D area. It's more towards C. 

I don't have much experience, still learning. My strategy is to buy and hold. I live nearby so can keep eye on everything. Also I do my best to find good tenants. 

There is not much issues with the building, I have seen their budget and dates of major repairs/ life expectancy, potential special assessments..etc.

I guess I don't want to overpay for it, but the same time if I was going to offer $62500, extra $2500 it is not a huge deal. In a long term I will make it back. 

Hello,

Looking to purchase a condo for investment. My last offer was $62500 and I'm paying closing costs (seller didn't not agree to cover any of it). Seller wants $65000. I still consider it a good deal even with purchase price of $65000. My realtor thinks it's not worth that much. I don't know what to do. Any advice?

I'm putting 20%. Closing costs around 4K. Tax on it $853. Insurance $300. HOA $300/monthly. I will have to take ARM 7/1 with 4.25% rate.

Charged Rent would be either $1000 or $1100/month. 

All utilites except electric are included in HOA fee. As well as general property maintenance.

Thank you for your thoughts.

al.