House #35 – Renting out a condo?

Last week we put another property under-contract.  It is from an agent we have worked with in the past (notice a trend on my last couple buys?).  This agent is pretty big and we just trying to expand on our relationship.  I think this makes the 5th house they have sold us.

This is a condo we got extremely cheap, but the home owners association fees are quite high, so it’s not my favorite deal.  It is a 2 and 2 and about 1000 sq ft.  We almost bought another one in this complex, but apparently Habitat for Humanity bought it instead.

We are planning to put this in our rental pool.  The condo has a lower income tenant base so we are thinking this might be the first rental that we go Section 8 on.  We will see what happens…

The bank wants us to close in early March, but given it is only Feb 8th, I think we can close this month.  Sometimes Home Owners Association paperwork takes a little extra time to transfer, so that may delay things.  If things stay on track we should close on 4 purchases in February… ahead of the goal!

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2 Responses to “ House #35 – Renting out a condo? ”

  1. J Scott says:

    Again, I’m amazed at the pace you guys are setting this year!

    Congrats on all the purchases, and keep the momentum going…

    J Scott
    .-= J Scott´s last blog ..House #16: You Get All Kinds =-.

  2. Steve says:

    Hi J Scott – Thanks, we set some ambitious goals in November and we are going to try to nail them. Along the way we are having some fun, so I really can’t complain with life!

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