I'm considering purchasing condo in Old Forge Crossing in Devon, PA (1 BR, 1st floor, very
nicely maintained). It is a FSBO & I know the current owner indirectly. My question: I am thinking of living in the condo for 6-12 months & at that time would like to rent it. Can any relators out there give their opinion regarding the invenstment value of a condo at Old Forge? Is there a good demand for rentals in this development? Have condo values here tended to rise with the market? (I have some concerns because, although it is a lovely maintained property, it is an older development & was wondering if that diminished its value relative towhat else is out there locally)..
Thanks
get a rent comparable appraisal done before you buy.
Jeff,
I would do a little more research in that community. Go this weekend and walk around and ask some of the neighbors mulling around outside.
Do you have a buyers agent ? If not, get one... an expert in Devon. That person will certainly be able to service you best and help negotiate the deal with the FSBO.
Good luck ! We are strong proponents of owning investment properties - see our site below for more info.
Jeff,
I have sold several units at Old Forge. The market is stable and expected rent should be $800. Without knowing much more, it's difficult to assess the viability of the purchase as a rental.
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