Anyone here start out with a Condo?
I’m eager to get started on my real estate journey and got an interesting proposition for a condo at the beach. I have a full time job, debt, 1kid, so life is busy but I’ve wanted to get into real estate for a while and Now I have a chance to. Just wondering if anyone reading began with a vacation condo rental? If so, what were your experiences? Is this a good place to start? I can finance the property and there are rentals on the books that would transfer with purchase. My first thought was even if I break even, Ive got a condo building equity... it would however stretch me a little on debt to income. How much should I have in reserve? What are good strategies for this? Any advice / guidance is appreciated.
Thanks!!! Alex