All Forum Posts by: Alvin Mallette

I am renting out a condo that I had to rent out in order to move into my new place. The issue is, while my tenant covers the mortgage (and he 's a good tenant), I have to continue to pay the condo dues, out of pocket. The dues ($250) go up every year and I am not sure that I can ever make any real money off the place. Should I short sale the condo as I am probably still underwater or is it better to hold it? I've been renting the place out for about a year and a half.

Thanks everyone so much for the warm welcome. I am eager looking forward to getting started on here.

Hello everyone,

My name is Alvin Mallette and I currently live in North Brunswick, NJ. I became a landlord when we (my wife is a real estate agent) bought our current home last year and rented out our condo in Plainsboro, NJ. I am very new to the investing game but, my goal is to purchase a multi-family unit (possibly section 8) and start building toward a secure retirement. I currently work for the Federal Government and I am a member of the NJ Air National Guard.