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Anyone have experience with a condo?
I’m looking at one tomorrow that is on the 3rd floor — a 1/1 in a really nice area across the street from a college.
The seller is asking $12,000 but I know right now she will take a whole lot less.
It is tax accessed for $48,000
She paid $24,000 for it 8 years ago and spent $5000 to fix it up within the last year.
She lives 4 hours away and just can’t take care of it anymore.
I prefer single family houses but this looks like a great deal.
It will rent for $650 at least.
There is a $100 a month HOA fee that includes all exterior maintenance, gated community, pool, hot tub, exercies room, saunaSounds like a good rental to me… but I’m not sure about a CONDO
I bought the condo for $6,000 now and $6000 in 1 year.
Then I sold it for $20,000 the next day with $5,000 down, monthly payments of $300 ( 9.5% ) – they pay the HOA fee and TI.
Kind of like a Lonnie Deal without the mobile home park.
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