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 04:38:04 · 3 answers · asked by D 1 in Business & Finance ➔ Renting & Real Estate
One way is to buy it as an investment property
rent it out and then in a couple of years you can sell it and do a 1031 exchange for tax purposes, roll it over into another investment property and so on. You can also buy it for speculation that the market will go up and then turn it over for a profit
2007-01-30 05:26:07 · answer #1 · answered by barry h 2 · 0⤊ 0⤋
no...the market is going down. don't buy and plan to sell it at a higher amount....it'll be a few years before you can make a return on it
2007-01-30 12:33:18 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It all depends on the location, location, location as to if it is a good deal and the Asc. fees are proper.
2007-01-30 04:46:08 · answer #3 · answered by golferwhoworks 7 · 0⤊ 0⤋