All Forum Posts by: Lisa Grace

The deal is done/can't take it back/impulse buy:

Sick of my poor returns on my investments/retirement accounts so I purchased a small condo.  Did the deal with no experience and have buyer's remorse.  I will take the time to read past forums to learn/educate myself but looking for a quick response/feedback regarding this purchase and if it was a poor/decent/good investment (so I can sleep at night).

1053 sq ft 1 bedroom 1.5 bath condo in north end of Warren, MI (built 1970). 

Paid $36,000 cash; put approximately $4,000 out of pocket including all appliances;

Rent $800 ($775 if paid on time);

HOA: $195.00 (they had a large assessment prior to my purchase that prev buyer covered);

Taxes: $100

Insurance: $25

I have a decent tenant in there now.

Thank you all for the encouragement and great resources.

Hi, just bought my first condo investment property (for cash).  I probably did everything wrong during the process and wish I had taken the time to do my research before hand.  I hope to learn more before I proceed with any future property investments.  I kick myself for not taking this leap after the housing crash but hopefully some good options will arise.  Looking forward to learning from everyone.