04-29-2011 06:50 PM
Hi i was wondering if i can buy a condo for investing for a long time. i want to pay it cash....... but i forclosed on in one of my house year and half ago. so what would be the safest way to buy the condo and is it a great investment.
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04-30-2011 08:17 AM
Since you are buying cash , your previous foreclosure does not affect the deal, for investment it is always good to put it in an LLC , and condos are no different than homes for investment, you need to make sure it is rentable and what the rents are for the area and take careful consideration of the HOA dues as they greatly impact your cash flow.