3 bedroom condo?
Hi, today I will be shown a 3 bedroom condo? The problem is how can I invest in this 3 bedroom condo? Should I buy it and have it rented? Or should I buy and resell for a higher price? Confused!!!!
By the way, the condo is $219,000 and maintance is $808/monthly. Is it a good deal?
2007-01-30 04:30:06 · 5 answers · asked by D 1 in Business & Finance ➔ Personal Finance
Is that your HOA fees or your mortgage payment? My maintenance fee or home owners fee is $100 a month and the value of my condo is approximately 180k. $808 is too steep for a maintenance fee.
2007-01-30 04:37:24 · answer #1 · answered by ♀_♥₤ẩϋřą♥_♂ 2 · 0⤊ 0⤋
There is no way to tell from the info provided.Whatis the appraised value of the unit. What are the taxes? You say maintenance is$808 did you mean home owners association fees?
You have not mentioned your income level, could you afford to pay the monthly mortgage payment, fees , taxes, and insurance if it isn't rented every month. Flipping the unit really depends how soon you could have it ready for resale and how much it would sell for.
The best advice to to see a real estate lawyer. They are expensive but will save you money in the long run.
2007-01-30 12:41:34 · answer #2 · answered by ttpawpaw 7 · 0⤊ 0⤋
Outrageous maintenance fee! It will be more than the mortgage!
For that maintenance price the condo should be ocean front and have multiple pools and tennis courts and include membership to the golf course!
2007-01-30 12:39:04 · answer #3 · answered by me4tennessee 6 · 1⤊ 0⤋
808 for maint. is crazy. I have a 650,000 condo in CA and my homeowners dues are 250 a month.
2007-01-30 12:39:46 · answer #4 · answered by Cardinal Rule 3 · 1⤊ 0⤋
My gosh..My condo was 313,000 and I pay $200.00 maintenance fee
I live in California in a very nice neighborhood
2007-01-30 12:35:57 · answer #5 · answered by Anonymous · 0⤊ 0⤋