All Forum Posts by: Megan Aldridge

Ryan,

Yeah...we have one condo already and the HOA fees eat up the margin more than I would like but its a 2/2 so we still come out well. But this 1/1 has a high HOA too and I just don't know if I can justify it. If I can talk her down it may be worth it. I need to crunch the numbers a little more....here in FL a singe story, ground floor unit is attractive to seniors so in that regard it may rent easily (in theory). I just don't have experience with renting a 1/1. Also, the property is about 30 minutes from a major university, so we could get a student in there (preferably a grad student!).

You are exactly right...need to research my exit strategies if it's a PITA for sure.  

Thanks so much!

Hey all you more-experienced-investers-than-me!  I have an opportunity to get a good deal on a 1/1.....is that hard to rent out?  It's a first floor, single floor condo.  I was thinking some little old couple or person would love to have no stairs to climb....thoughts?

Thanks!

Megan

Thank you both, Wayne and Omar!  I am going to sit in on an auction at the courthouse next week to learn a little bit of what it's like.  Thanks!

I know this thread started 2 mos ago, so I'm hoping I can restart it because I too refi'd our home to cash out and pay cash for our first investment property.  So now that rental property is paid off.  So I want to start a new deal......so I know I don't want to cash out again only because I don't want the loan on my personal residence to get too high.   So should I do HE Loan on the paid off rental property to pay cash for my next deal or would it make better send to just mortgage the next deal.  We have excellent credit.  Thoughts?

I'm a new investor...one property so far.  First renter, despite doing everything I read on vetting out prospective tenants, is under eviction for failure to pay rent.  Can I advertise the property before the eviction process is complete?  I would like a quick turn over.  It's a condo in FL.  Thanks!