Related Posts
What do you wish on your ex?
Anyone in vegas right now?!
When is a 3 page resume acceptable?
Additional Posts in The Real Estate Bowl
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.




MD1 makes a good point. Make sure that 4k is all in as a landlord, not a primary residence. It sounds like you're "spending" 6k a year to keep the place. Does your resell value go up more than that a year? If not, set a break point for yourself and assume conservative increases in HOA/insurances/maintenance/etc
Mentor
Does 4k pm include repairs and maintenance? Is there any buffer built in for turnovers?
I’ve experienced high increases in insurance and taxes the last few years so know that those will only go up, not down.
Not sure I’d rent out / purchase a condo period as there are so many unknowns when someone else owns all the rules. Plus I’ve seen some nightmare stories of condo special assessments that cause costs to skyrocket.
Which city
Visual Storyteller
Chicago
I mean do you want to rent it out, and can you afford to? That’s really the two questions.
Subject Expert
On a 15 yr mortgage, I’d be fine with that, especially at 7%. When interest rates decline after our president successfully initiates a recession in 3 to 6 months, you’ll be able to get a rate in the 5’s and you’ll be cashflow positive before you have to renew your current tenants.
$4k per month tells me you’re likely in a HCOL city, which will typically out-appreciate middle America.
Visual Storyteller
Chicago