Asked by rachelwenli, Long Beach, CA • Tue Jan 29, 2013
I am considering buying a 2-bedroom condo/apt under $200,000 in the above area, paid in cash, no mortgage. We will live in and rent out a room now. In future, if we move away, we will rent the whole out, to students or faculty from CSULB. Can condo/apt in these zip code areas be bought as investment - not owner-occupied? What's the range of HOA like?
What are the pros and cons compare the above proposal to, e.g. buy a 400k single-family home but with a mortgage of 200k (i.e. 50% downpayment)? Please comment. Thanks!
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