Posted by Sandy FL on April 28, 1999 at 09:57:40:
Three things I would keep in mind about condos:
Are there any condo rules against renting? They can restrict this. One condo I looked at they would allow renting after you had owned the place for 1 year (but is anyone really checking?)
What are the maintenance, condo or homeowner fees?
That will eat into the $170 pos cash flow. I have seen it vary from $70-$230 per month in the SAME NEIGHBORHOOD.
Specifically for Ft Laud… is it a 55+ condo? They can restrict who can buy the condo by AGE. (or try to)
Condos are not the greatest, harder to sell later on than a house, but you can get some DEALS. They key is to find a condo association that will stay out of your HAIR, LOL
Good luck, let me know how it goes.
P.S. Come to the next Boca or Broward Real Estate Investors Club meeting. Email me and I will tell you about it.