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Updated about 1 year ago on . Most recent reply

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Rabia Khan
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Rabia Khan
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Starting Out

First investment property

Rabia Khan
Posted

should i buy an apartment/condo to rent out as my first investment property?

Houston, Texas
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Jonathan Greene
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Jonathan Greene
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Jonathan Greene
#5 Starting Out Contributor
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  • Mendham, NJ
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Jonathan Greene
#5 Starting Out Contributor
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  • Mendham, NJ
Replied

@Vasudev Kirs all HOAs have bank accounts that are able to pay for capital expenditures in the development. The money comes from the HOA dues, but if the company mismanages the funds or has high overage and people not paying, the money in the account is soft which will make it harder for lenders to lend there.

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