ok so I’m looking for a property investment and see this On Craigslist.
40k 2/2 condo in south Florida. Nice area. Hoa fees are 350 monthli, no rentals first year. Saw pics , looks great for the price. Rental comps are 1,100 monthly. Even if I cant rent for the year, I can use that time to fix up, right? Is this worth it? I would pay cash. What other questions should I ask?
Needs updating nothing major.
It looks like a great deal. Is it a short sale, or FSBO? If it’s listed by an agent as a short sale, then that’s most likely the starting price. Have you looked up the sales comps for that area?
Hes an investor himself and said he had it listed with real estate. I didnt have the street to do comps but he checked comps in the complex and said rental comps averaged $900.00. I thought that was sort of low considering the hoa was 350 monthly.with taxes and insurance cash flow is only about 350.00. I would like more cash flow
It seems like a pretty good deal. I think you should go for it. Just make sure you read the lease agreements before signing anything. All the best!
Yes, it seems good deal for you. You should go for it soon. Make your deal best and make sure you choosing right place to living better .