Posted by Jeff on March 02, 2001 at 15:10:59:
I am considering an owner financed townhouse for $50,000 which is assessed at $39,460. I have estimated the needed repairs at around $2000.00. I think I can purchase it for $2000 down and then sublet it for around $700 a month. Im not sure about the vacancy rate but I know it is located in is a good rental market. The kicker I would say is the maint/association fees which run $145.00 per month. I have excellent credit so that is the least of my worries. I’m just seeking some guidance on this whole scenario. It looks like it could be a decent long-term investment, without much positive cash flow at first under these types of terms. Any advice is greatly appreciated. Thanks, Jeff