Newby Seeks Advice

[SDWranglers]

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.

Thanks!

[sdrealtor]

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.

[sdrealtor]

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.

[sdrealtor]

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.

[sdrealtor]

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.

[sdrealtor]

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.

[SDWranglers]

I understand that is not Kensington. I’m not looking to purchase a rental condo in Kensington, just in an area that is relatively marketable.

[SDWranglers]

I understand that is not Kensington. I’m not looking to purchase a rental condo in Kensington, just in an area that is relatively marketable.

[SDWranglers]

I understand that is not Kensington. I’m not looking to purchase a rental condo in Kensington, just in an area that is relatively marketable.

[SDWranglers]

I understand that is not Kensington. I’m not looking to purchase a rental condo in Kensington, just in an area that is relatively marketable.

[SDWranglers]

I understand that is not Kensington. I’m not looking to purchase a rental condo in Kensington, just in an area that is relatively marketable.

[LarryTheRenter]

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.

[LarryTheRenter]

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.

[LarryTheRenter]

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.

[LarryTheRenter]

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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