All Forum Posts by: Yoe Lopez

I would definitely do it!(at least here in New Jersey)

I have several clients who own 2 or more condos and it's definitely worth it for them, here is why;

1. Appreciation: One of my clients bought their first unit in 2014, they paid $115,000. Today that one is worth $210,000 conservative! they also bought another one in 2019 for 180,000 which is also worth 210k to 215k. Talk about ROI!

2. Excellent Cash flow. The fact that someone is paying your mortgage and that rental demand is increasing is just so awesome. Rent prices have gone through the roofs, going up at least 10% every year for the last 3 years which defeat inflation.

3.Lower Down payment: Here in New Jersey, a Multi-Family or Multi-Unit or even a House has become very expensive. An apartment has become an alternative solution when money for the down payment is an issue.

4. Hands-free Maintenance: The fact that you don't have to worry about taking care of the nuisances of the day to day operation is gold. No shoveling the snow!   

5. Your own Buyer's Farm: This concept was introduced to me  by one of my higher end investors. If you are a Flipper and you do right by your tenants, what are the chances of one of your tenants buying one of your flips directly from you when they are ready to move?

I joined this group because I'm planning to buy a couple of units myself so yeah it is Worth it!!!