All Forum Posts by: Elsa M.

Thanks @John M. I appreciate the time you spent in your reply, it was very helpful. I am also looking into townhouse style condos. When looking into a condo I want to buy, where do I go to read about HOA docs and CC&R's? What should I be looking for?

Hi, I'm looking to connect with an investor who owns condominiums and wouldn't mind me asking them a few questions.  I'm looking into purchasing my first property and could really use your advice! 

Thanks!

Does being grandfathered in help to protect you at all if you choose to rent? Or while you are renting can to HOA just take that away from you , assuming there is no issue with the renters?

I understand that it's trickier, but its also nice that there is less maintenance involved. When reading the guidelines of a HOA what should I look for?

Thanks for responding!

Hi, has anyone had success with condos? Are multi family and single family homes the only way to go? I understand that multi family properties are the better way to go, but can buying and holding condos for the long run be a good idea as well? I find it easier to purchase condos while putting down 20%, I plan to buy and hold in the long run. What should I look for when reading about their HOA?

I appreciate everyone's input! 

Hi everyone, I need some advice! I work in the dental field and I would like to have a side job in RE. At one point is was considering purchasing a multi family property as my first home (live in one of the units) but after listening to Dave Ramsey, I decided to purchase a condo that I would be able to pay off in 5-6years. That way in five years from now, I wont have a car payment or mortgage (only HOA fees and property taxes of course) I'm in my 30's, no kids and single.

After my home is paid off, then I would like to purchase properties.   In the meantime, I want to pick up a side job to pay things off more quickly, I don't want to stay out of the RE game so I'm considering working in RE in someway. Can you guys give me any advice as to what you think I can do. Should I become a RE agent (which I'm not too crazy about going into sales) or an appraiser?  What else could I do? How long would this take?  Perhaps if I enjoy this  work I would considering doing it full time in the future.

Thanks guys!

Just what I need! Thank you BP, this will be so helpful!

@Matthew Olszak I will! Thank you!

@Nathan Gesner Thank you! I’ll look into that!

@Jeff Burdick Thank you!

@Dick Rosen I did, but wasn't sure which reference was more credible.  

@Michael Facchini It's in Berwyn, and I'd put  5% down and the rents would cover mortgage but wouldn't really generate any cash flow. Not sure if I should purchase or wait and see what else is on the market. Yes, it's a 2 unit but I don't think it could be converted to a 3 unit, but it could work as an extra bedroom for when I move out.