thinking about copping a condo...

fontaine

fontaine

Banned
8,053
6,535
Joined
Jul 5, 2013
Sup famb.

I'm thinking about buying a condo or town home...

Something really close to downtown Dallas...

Looking at around 100k to 200k. Nothing too major...

Any advice on the process would be apprciated.

I really plan on moving in 3-4 years... I want to cop the condo... Live in it for the time being...

Then eventually move out and rent it out...

What y'all think?
 
Planning on doing this as well.

Anyone with experience, especially when acquiring the property under a LLC, holla at me. :nerd:
 
Go townhouse if possible, typically much better investment. Condo market is flat almost everywhere and they're marketable to a much narrower demographic. Also you can always rent a room or two while still living there to basically live for free (should be able to cover close to mortgage if in a desirable location). Think about it, if living downtown/close the the action you'll barely be at your place anyways so might as well capitalize and build equity without really paying for it. That said have no idea what Dallas is like but would think "downtown" means where younger people want to live

Man if I was in Texas id already be livin large, great market for engineers down there too, DC market is a joke...
 
Last edited:
Fontaine said:
:pimp: :pimp:

What's going to be your monthly expenses?

Mortgage , hoa, energy, etc
Click to expand...

Don't plan on living in it. It won't be finished for 2 years, so by that time the value should of jumped by at least 50k. Downside is I have to put down 20% over the course of a year, which is not bad since ill get it all back.


If i was to live in it, my monthly payment for mortgage would be around 1300, Condos fees would be roughly 250-300 and everything else would depend on some factors.
 
Greenville/Uptown area :smokin
North Dallas is cool, I live literally 5 minutes away from Downtown. Always something to do.

TBH I would move north to Plano/Frisco/Mckinney area, its flourishing up there and the likely return you'd get if you wanted to move on would be good. Alot of value.
 
malikdagoat said:
...wish I lived somewhere where condos near downtown were 100-200k.
laugh.gif


Must be nice.
Click to expand...
Word.
 
Mckinney is kinda far out from downtown IMO..especially during rush hour that commute would be a B.
 
Last edited:
USABasketball08 said:
Ricky, have you looked into Plano/Carrolton/Richardson?
Click to expand...
The commute...

I used to live in the north Dallas/Plano area right around George Bush and north Dallas toll road...

But I got tired of paying tolls AND sitting in traffic.

mALiZ said:
Greenville/Uptown area :smokin
North Dallas is cool, I live literally 5 minutes away from Downtown. Always something to do.

TBH I would move north to Plano/Frisco/Mckinney area, its flourishing up there and the likely return you'd get if you wanted to move on would be good. Alot of value.
Click to expand...
McKinney is too far... I had a coworker that literally sold his house after 6 months of working downtown.

I'm good on all that...

I live 2 blocks from my job in downtown... I've been spoiled. :frown:


A town home is a good idea and rent out a room...

I'm going to talk to a Realtor about that



I have been doing research and I'm trying to keep all costs under $1300 (hoa fees, mortgage, prop taxes)

I think I can manage that off a $100k to $150k condo..
 
100K-200K 
eek.gif


I've been looking for condos and town houses in my area. 350K+ for something decent.
 
there was a thread that was titled something like renting vs owning. should read that.


Bought a condo about a year ago. you wanna find out the "make up" of the condo association you wanna purchase. if there are too many renters and not enough owners , the place is said to be "uninsurable" making you have to put down at least 20%. The condo i wanted was uninsurable due to too many renters and not enough owners so i was pissed. Having to put 20% down is just too much and dont know how people do it. i would have had to put $36k down and that wasnt including all the fees and realtor costs.

Good luck. if you have questions in particular, ill try an help.

Go get preapproved.
 
do it. I just bought one in July, just moved in a few weeks ago after having some renovations made. Definitely offers good freedom to do the hard things you want, and depending on where you are the condo associations dues handle the trash pickup and law services. I'll probably move again one day and rent it out as well.
 
You must log in or register to reply here.

The ultimate sneaker enthusiast community.

NikeTalk was created as a way of giving back to both the sneaker enthusiast community and to the greater global community of which we are all a part.

NikeTalk is NOT affiliated with Nike Inc. in any way, shape, or form. All opinions expressed herein do not necessarily reflect those of Nike, Inc.

© 1999-2024 NikeTalk.com

Share this page

Back
Top Bottom