Updated over 11 years ago on . Most recent reply
Condo Purchase - Please analyze
There are so many great minds in this community so I wanted to run this deal by you guys to see what you thought. I am leaning toward buy and hold. I own a vacation rental home 1 mile away and it does very well. I will try to vacation rental this unit.
However, does this pencil for a flip or buy and hold better.
Condo
purchase price: 90K
repairs:10-15K
ARV-120K
900sf
2br 1ba
Fair condition needs to be updated. i.e. flooring, bathroom and kitchen.
Good neighborhood in Palm Desert, Ca
Rent: 1000/month.
HOA fee- 240/month
FINANCING: owner will take 25k down and carry the rest.
Please let me know if you need any more information from me.