All Forum Posts by: Sastry Konduri

Hi,

I am looking to invest in my first property in Columbus Oh. It is a condo in an A class neighborhood. Very close to shopping and a few companies.

Asking price- 214K(I am thinking of offering 205k)

Monthly rent- 1800 to 2000

HOA- 175

Year built- 2011.

Property taxes- 4000

I want to put in 20% down and 30 year fixed loan.

I am seeing a positive cash flow according to the rental property calc. Since I am just getting my hands into the RE investment and also this property will be Out of state, I want to be safe and invest in class A neighborhood. Please let me know your thoughts on the property.

Thanks,

Sastry.

I will be there tomorrow.

Hi Gurus,

Is investing in condos a good idea? This will be my first investment property and in my area, investing in SFHs and MFs is out of my current reach. I am looking specifically at Folsom CA area. Some insights on that area will also be super helpful.

Thanks in advance,

Sas3.

Ok Folks Thanks for all the replies. I did look at a bunch of properties and decided against that area. Stockton CA was the area and I did not feel comfortable with the area as well as the kind of tenants.

Hi All,

Thank you all for the reviews.

@Jim Fleck Yes, we want to continue investing if things workout. I and my partner are planning to hire a management company to manage it for us since we are newbies also want to be passive investors at this moment. But I am not sure if letting the seller manage it is a good idea.

@Steve Vaughan The agent said that he is going to give me a tour of the unit.  Not sure if he will let me see the occupied units. Yes it did stuck to me as a possible good value. I did my math and felt this is a good cash flow property. Having said this, we need to know some more info about the property. The agent mentioned that the seller lives just 2 houses away from the property. So, I will also have to see why he wants to see the property which he can very easily manage. Also, this is well within my budget.

Thanks for the reply @Baylus D. Nicholson

Hi RE Gurus,

I am meeting the owner and the Agent of a Multifamily home this coming Sunday. It would be really helpful if the experienced folks here could suggest me some important questions to ask and the kind of paperwork I need to ask for.

Thanks in Advance,

Sastry.

Thanks for the replies guys!

Hey RE gurus,

Is it a good idea to buy a investment property by taking a home equity from primary home?

What are the pros and cons? A few links to some blog posts will also help.

Thanks!

Thank you all for the warm welcome! Thanks for the suggestions. I listened to a couple of podcasts. Most of the guests seem to be living in a smaller market than Bay Area. And Also, they seem to have started 2010- 2013. Best times! Do other new investors feel this way too?

Hi All,

I am new to the forum. I am from Bay Area. Almost impossible to invest here. So, looking for some ideas to invest elsewhere.