All Forum Posts by: Alaeddin Almubayed

@Allie Pfannenstiel I thought because its new construction it could be a good investment. 

@Brett Tvenge Thanks, make sense!

@Nicholas L. Correct currently I'm renting a condo.

Thanks @Brett Tvenge appreciate the response! that's what I thought too, also houses appreciate in value faster. 

@Nicholas L. Good questions. Yes, I bought it solely as a rental and paying cash for the property. I do have an actual comp and it is around 1.2k. I don't have any other properties just this one which I still don't own but in the process of closing. Since its a condo, monthly expenses are low, just property tax, insurance, and HOA around $190. the tenant will pay utilities. please let me know if you have more questions.

Hi, I'm in the process of closing on a 1 bedroom unit in downtown phoenix. the unit is 550 SQFT and top floor. I know the property is not cash flowing a lot. I can rent it for 1.2k and I paid 240k for it. I still have 5 days to backout I feel like i made a mistake. I'm worried about the Phoenix market and if the unit will even appreciate in the future. I'm also worried HOA special assessments although the unit is brand new. please help me If I should proceed with this deal. thanks