Nor Calif Bay Area Condominium, is it a good investment ?

2 Replies

Hello,

I am analyzing my very first deal. The part about preforeclosure concerns me. Would you buy it? I can do 20% downpayment unless there is a better option for the downpayment that you know. Maybe offer less than $190? The property is located in Sonoma County CA., wine country. 3% unemployment, buyers market right now.  any advice or feedback is more than welcome. Thank you.

Agustin 

Just be careful with condo units. You will have an HOA and special assessment at some point in time depending on how old it is. There can be random weird rules by HOA and they also have a monthly fees which go up every year.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here