Updated about 4 years ago on . Most recent reply
Condo in Long Beach Ca. rent it or sell it to start out
Hello group, in 2005 after reading rich dad, I bought out of state in Dallas TX. two one bedroom condos to learn how to landlord and to grow my $.. I learned a lot and got rid of both properties in 2010. In 2013 I was able to buy in Long Beach, Ca. my home state. 126k for a 1 bedroom condo. Now in 2021 I have this long distance relationship in CT. and am wondering what to do with my condo. It rents for 1900-2100 a month cost of ownership is 350 mortgage 370 HOA 100 insurance, and 150 property tax 970.00 I did the calculator and it said I have 4% return and 590 a month positive
I can sell it now for 375-395k. If I stay in CT. I am not sure I want to deal with a rental in CA.... just too far although I can have a friend be my property manager type person.... CT is very strange on property tax and real estate does not go up in a normal manner vs. Ca. curious what you might do.....
I can sell it now for 375-395k. If I stay in CT. I am not sure I want to deal with a rental in CA.... just too far although I can have a friend be my property manager type person.... CT is very strange on property tax and real estate does not go up in a normal manner vs. Ca. curious what you might do.....