Buy a 1 bedroom condo with cash or buy a 2 bedroom condo and have to get a mortgage. what do biz?
Buy two 1 bedroom condos with a mortgage, rent out one to pay the mortgage. Meanwhile save up to move to a proper home, then rent out the second condo as well.
>>1928204
Buy the 1 BR condo with cash and rent it out to pay the mortgage on the 2 BR
>>1928204
don't rent out anything
buy the 1 bedroom
>>1928204
>Don't buy more living space than you need.
>If you can earn a higher rate of return in the market than your mortgage costs (7% a year in the market vs 4% for your mortgage), then put down the minimum, get a mortgage, dump your extra cash into investments.
>Grow these funds and contribute extra to it until you can buy a multi-family property (Duplex, triplex or apartment).
But it and rent out individual units.
who the hell rents condos
it's like an apartment except it's subleased and you have to pay massive HOA fees
and THEN on top of that you expect to make a profit?