ny..is buying and holding condos a good idea

2 Replies

hi, I'm interested in buying a condo for my first buy and renting it out I live in new York but condos in Westchester go for 70 - 100k which I think would give me a good start . For experienced investors is this a good idea? Also what are any cons to buying  a condo 

@Yolanda Can for anyone on here to give you an answer first you must tell us more details.

What is the monthly rent
What are the monthly expenses broken down by category.

I personally do not like condos as investments but some do.

Originally posted by @Yolanda Can :

hi, I'm interested in buying a condo for my first buy and renting it out I live in new York but condos in Westchester go for 70 - 100k which I think would give me a good start . For experienced investors is this a good idea? Also what are any cons to buying  a condo 

Yeah, we need more information to be of any legitimate help to you.

If you don't know what numbers to give you should probably start going through all the education that's available on the website and begin learning how to analyze deals. Once you've gotten some of the basic information required to analyze the deal then other investors here can be of more help for you.

I would read the guide on how to buy rentals.