All Forum Posts by: Nelson Mendez Jr
Nelson Mendez Jr has started 1 posts and replied 2 times.
Post: Is a Condo Buy and Hold a good first investment?
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You're right that I don't live in Florida and this would be a first investment. From what I've found in my research on this unit is that the major repairs have just been completed, roof, updated electrical, etc.
The cash flow does work out and the HOA's are reasonable. Plus the R.E that I'm working with has been doing this for 10 plus years and comes highly recommended by close friends that know him.
The state I live in has one of the highest property taxes in the country so I see no sense in investing locally. Plus the fact we will be moving in a few years closer to the rental area.
I'm just wondering if anyone else has gone this direction and has it worked out .
Thank you.
Post: Is a Condo Buy and Hold a good first investment?
- Posts 2
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Hello all. First off I would like to say that I`m new to this whole investing world. I just crested 50 and my wife and I are jumping into the Real Estate market to move towards creating wealth and security in our coming years.
My question is, Has anyone else on here invested in Condominiums, and if so, what should we look for or avoid to be successful?
We are currently in talks with a Rental Agent in Florida who works with out of state investors who are interested in acquiring rentals. The Agent has a full team in place to handle the inspection, the Contractor for any major repairs, and the Property mgmt. team for small/minor repairs.
Has anyone else taken this route to get started? Is this too risky as a starting venture?