First Time Buyer, Condo

[Steven Jenk]

Investment Info:

Single-family residence buy & hold investment in Washington.

Purchase price: $230,000
Cash invested: $10,000
Sale price: $295,000

First-time buyer, lots of mistakes. I lived in this unit so it wasn't exactly an investment but rather just a use of money.

I'd call my qualify my strategy here as 'waiting for appreciation.'

Lessons learned? Challenges?

I learned that waiting for appreciation is the worst strategy.

Condominiums can do a lot to prevent individuals from renting their units. They can also randomly raise HOA fees for any particular reason.