I bought a condo last year in Jersey city near journal square. It’s a new build pretty modern open concept kitchen 2bd 2bath and has a parking spot. I am looking to purchase a townhome this year but the mortgage will be pretty high so I’d have to rent out the condo within 3 months. Is that reasonable? Or is there too much risk here since i don’t want to be stuck with 2 mortgages. What has been peoples experiences renting out their condos ?

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Whether or not you should rent your apartment and buy a new house will depend on several factors, including your financial situation, goals, and risk tolerance. Before making a decision, it's important to consider the following financial situation, goals, risk tolerance, and leverage (buying a house will likely increase your leverage, as you will be taking on debt in the form of a mortgage. It's important to consider your overall debt-to-income ratio and make sure that you are comfortable with the level of debt you are taking on).

It's a good idea to consult with a financial advisor or mortgage professional to get a better understanding of your options and determine if buying a house is the right choice for you. They can help you assess your financial situation, evaluate your goals, and determine if you are taking on too much debt.

likesmart

Thank you i appreciate the advice!

The amount of info we need to even began to give a decent recommendation lol. What you think this is? Mind reader

MC1 is salty! Lol

You can give the condo to me

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