First time buying rental Property!!

[Preethi Botta]

Hi Friends,

This is my first post and I am not sure if I can ask this , but just giving it a try. Let me know if this is not appropriate.

We are looking at condos for rental property.  There is a  2 bed, 1 bath ( 1 level) condo at 150k and another 3 bed, 2 bath ( 3 levels) with garage at 250k . We don't know the rent we would get for the 2bed/1bth but we know for the  3bed, 2 bath we will get around $1500 .

 I would prefer to buy the $150k as the downpayment is less. However i am worried if this will rent out easily or not? Its closer to a company an a good school district.

Which one do you think would  be always occupied the 3 bed/2bath(3 levels)  or 2 bed/1 bath (1 level)

Thanks a ton!!

[Travis Christl]

250k to rent for 1500... You won't make any money doing that and wouldn't recommend it. As for the 2 bed 1 ba I own 6 of these and am always able to find renters. I get the empty nesters and the young professionals. Both are demographics to rent to. Even still I'm not sure I would buy it. You need to research approx rent price first. Look at zillow, Craigslist, rentometer. In about 5 min you should have an idea. Because your looking at association the fees are really important to understand. If it would rent for 1400 or so with 225 or less in association then this deal is ok. If will rent for less or association is more than walk away as well