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All Forum Posts by: Cody Barrett

Cody Barrett has started 63 posts and replied 342 times.

General Landlording & Rental Properties

Post: Condo For 1st Rental Unit Purchase?

Cody BarrettPosted
  • Phoenix, AZ
  • Posts 345
  • Votes 138
Originally posted by @Cal C.:

no.  There is way too much hoa risk.  If you have several rentals you may be able to mitigate the risk, but not when it is your only property  and all of your funds are tied up in it.

 Ah I see. Thank you!! 

0 Votes
General Landlording & Rental Properties

Post: Condo For 1st Rental Unit Purchase?

Cody BarrettPosted
  • Phoenix, AZ
  • Posts 345
  • Votes 138

Hello everyone,

Thank you for reading my first post on here.  Looking to enter the world of Real Estate.  I do not own any property currently and I am saving 80-90% of my income to get started and maybe make this a career.  I live for free currently so I want to take advantage of the opportunity.  There are some great deals on condo's in my area.  Any thoughts on as to what type of property is a good starter to gain experience, learn the business, and build cashflow to expand my business? My plan would be to buy and hold on to my properties for income, maybe look to sell when retirement arrives.  I am 23 years old and work for Chase full time.  I'm looking to have around 50k to use before my first purchase if that helps anyone with, "what I would do in your situation.."  : )  Thank you so much again for taking the time to read this, looking forward to hearing from you experienced pros!  

Cody B.   

PS: Tips or LINKS to on how to leverage my capital to get the most out of it is welcome and greatly appreciated.  Sorry if I should post this in another category! 

0 Votes