Hi, I have 50-60K to spend for investment property in Aventura-Sunny Isles,FL. What do you think is better?

Anna
Anna
Home Buyer
Aventura, FL

investment - to buy a condo for 50,000-60,000 without mortgage and rent it out or buy condo for 90,000-100,00 and take a mortgage? Will it be possible with mortgage payments to rent it out and not to pay from my poket???

Wed May 13 2009, 09:04 - Home Buying in Aventura - 1 answer
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Beth Jenkins
Beth Jenkins
Agent
Miami Beach, FL
FIRST ANSWER

Hi Anna,
The first question is have you located the condos? I do not see any condos in Aventura or Sunny Isles for 50-60k, I work this location. I know for 90-150k you can purchase in this area. With a small mortgage payment and after paying the maintenance and taxes you will probably break even. You will probably be holding it for at least 5 years, and are looking at an incease int he property value rather thatn making money off of the rental income.

I woul be glad to help, and my companies web-site will be a good guide for condo pricing.

All the best,
Beth Jenkins
South Flrida Brokers
786-374-4778

Web Reference: http://www.arealtyteam.com
Wed May 13 2009, 10:08
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