I’m currently sharing a large home in Kensington, renting two bedrooms for $900. Kensington is an area I am extremely happy with, yet know I cannot afford to purchase in and don’t want to move from.
I’m wondering if I should consider a low priced (<$100K) REO 2+ bedroom condo as a rental property in a realatively marketable part of the city? I’m in no hurry to buy now, but would if the right opportunity came along.
Gross Income - $65,000
No debt other than revolving credit lines that I pay off monthly
Avg FICO – 769
DP ~$6K
While more than I would want to spend, something like this http://sandiego.craigslist.org/csd/reb/1022610533.html is what I have been considering. Something that would be relatively easy to rent and at a rental price that would cover all the expenses of the mortgage and HOA.
All constructive comments, suggestions and opinions appreciated.
Thats not Kensington. The problem with Kensington is that there are virtually no condos there. I think there are 3 small projects with a handful of units in all of Kensington. Only 1 or 2 sales per year of them. Detached homes will always be a stretch unless your income goes up dramatically.
Thats not Kensington. The problem with Kensington is that there are virtually no condos there. I think there are 3 small projects with a handful of units in all of Kensington. Only 1 or 2 sales per year of them. Detached homes will always be a stretch unless your income goes up dramatically.
Thats not Kensington. The problem with Kensington is that there are virtually no condos there. I think there are 3 small projects with a handful of units in all of Kensington. Only 1 or 2 sales per year of them. Detached homes will always be a stretch unless your income goes up dramatically.
Thats not Kensington. The problem with Kensington is that there are virtually no condos there. I think there are 3 small projects with a handful of units in all of Kensington. Only 1 or 2 sales per year of them. Detached homes will always be a stretch unless your income goes up dramatically.
Thats not Kensington. The problem with Kensington is that there are virtually no condos there. I think there are 3 small projects with a handful of units in all of Kensington. Only 1 or 2 sales per year of them. Detached homes will always be a stretch unless your income goes up dramatically.
Having alot of your money in a rental may make it more difficult for you to eventually buy a place for yourself down the road…..less money for a down payment and more difficulty qualifying for a loan.
Having alot of your money in a rental may make it more difficult for you to eventually buy a place for yourself down the road…..less money for a down payment and more difficulty qualifying for a loan.
Having alot of your money in a rental may make it more difficult for you to eventually buy a place for yourself down the road…..less money for a down payment and more difficulty qualifying for a loan.
Having alot of your money in a rental may make it more difficult for you to eventually buy a place for yourself down the road…..less money for a down payment and more difficulty qualifying for a loan.
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