Newbie interested in Middletown NY

[Derick O.]

Hey,

I'm new to real estate investing. I'm looking at my first property now in Middletown NY. Are townhouses with no HOA fee good investments or does that mean something wrong with the area or complex? I know it rents for 1400 taxes 3900 and listed at 119000 want to put an offer of 90-100.

[Mark Cohen]

Welcome and good luck,

I have spent a little time researching condos in middletown/orange.  It's a good rental market, but it is important to know which school district (pine bush or middletown). The county website is very useful (http://propertydata.orangecountygov.com) for seeing last sales price and comps.  Don't mean to be nosy but if you are looking in Rivervale complex (no hoa) there is currently a listed short sale around 65k if you want to go down that path.