Skip to content

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

User Stats

10
Posts
1
Votes
Nathaniel S.
  • buford , GA
1
Votes |
10
Posts

contemplating first rental purchase in collegetown

Nathaniel S.
  • buford , GA
Posted

Here is a quick rundown from the limited info I gathered.

Condo is a premier complex with great clubhouse and pool. It is 3 bed and 3 bath.

Hoa fee $163 year

Rent:$1200 easily and possible up to $1350.

Very easy to rent here and is located in athens. 

Sales price is 99000 where similar condo are 130k and 2 bed, 2 bath are going for 95k

I haven't run the breakdown as I am at work but I'm thinking with a conservative estimate of $1200 a month I'm profiting $400 a month easy after all expenses (will manage property myself).

My main question is what are my finance options, as that is something I've done little research on. I  only want to put 10% down. I make about 125k and have 65k in student loans (paying off in 5 years so 1233 a month  , a 498 car payment over 5 years and my mortgage with all expenses is 971.00 a month .

Thanks for Any info

Loading replies...