Condo Purchase

[cup_saucer]

9 minutes ago, Chakram12 said:

good man, first condom purchase anukuna. condo purchase also good. safety important 

LOL.

[cup_saucer]

22 minutes ago, mekapichal_mnthmkora said:

that's fine... all you need to do is check

1) if you can afford it atleast for a year..

2) are you going to stay in that state or that location for atleast a year or two.

3) howz job market for your technology in that area in case your current job assams... so that you can still stay in that place for some more time..

4) Properrty lo owners a undaala leka rent ki ivvocha kanukko...

 

then go aheard.. man.. its easy.. I got stuff like that too.. bought a condo.. then a house .. later invested in few Gas stations and motels ..

its easy.. if you have a stable job..

 

nen mostly tech switch avtha like java related edaina.. will prefer stay here. 4 yrs nunchi ikkade untuna coincidentally. so 1 yr aithe untanu. property rent ivochu ani anukuntuna.. pakka for rent undi board but still adugutha.

[mekapichal_mnthmkora]

19 minutes ago, Chakram12 said:

good man, first condom purchase anukuna. condo purchase also good. safety important 

nee yavva..  how this thoughts haa?

 

[harvey]

ippudu unna paristhithilo yeppudu dengey mantro ardham kavadam ledhu...nenu ayithe anni moosukoni konni days complete saving mode loki pothunna. Winter is coming!

[aviator]

so nee monthly emi+hoa is ~1600. nee post lo ekkada property tax ledu. so i am assuming you arent considering this. so adi inko 100 esko minimum (i am being very conservative here as i dont know where you live) . so that is a total of ~1700 emi/month

 

lets say you leave from there after an year and rent it out @1100/month which is the max rent you said. so you are looking at 200(1300 Mortgage - 1100) rent plus property taxes out of pocket per month at a minimum. which is 3600/year.

also if you rent, you need to a property management company per month to manage your property and rent it out on your behalf. So they will take some money. also factor in some money to keep aside every month for repairs. 

if your think your condo is going to appreciate more than this per year go for it. 

 

[Batman_fan]

 Consider investing in Mutual funds. 

[xxxmen]

Wait for first 100 days man tondra padaku if youa re on H1/L1

[TampaChinnodu]

1 hour ago, harvey said:

ippudu unna paristhithilo yeppudu dengey mantro ardham kavadam ledhu...nenu ayithe anni moosukoni konni days complete saving mode loki pothunna. Winter is coming!

GP

[cup_saucer]

5 hours ago, aviator said:

so nee monthly emi+hoa is ~1600. nee post lo ekkada property tax ledu. so i am assuming you arent considering this. so adi inko 100 esko minimum (i am being very conservative here as i dont know where you live) . so that is a total of ~1700 emi/month

 

lets say you leave from there after an year and rent it out @1100/month which is the max rent you said. so you are looking at 200(1300 Mortgage - 1100) rent plus property taxes out of pocket per month at a minimum. which is 3600/year.

also if you rent, you need to a property management company per month to manage your property and rent it out on your behalf. So they will take some money. also factor in some money to keep aside every month for repairs. 

if your think your condo is going to appreciate more than this per year go for it. 

 

 I missed one word and whole meaning changed. So 1200/1300 per month that I said is including taxes .

 

 

[masakali]

10 hours ago, cup_saucer said:

Friend vala Friend kosam kadu idi nakosame.. so pls nen genuine ga asking this opinion

 

oka pedda state ki captial city, not like boston kani chinna city lo oka condo with small area 960sft. illulu anni athukoni unnai.. intiki mundu parking kakunda.. oka place lo common parking to all 15 condos.. apts size anthe unnai... 

 

2 bd 1.5bath with unfinished basement. listing price $140k.. nen 100k - 110k aithe offer chestha.. school dist 3/10 so no scope to increase in price in future. kani main road that leads to downtown main towers, state campus, state univ ki walkable or cyclable and oka chinna college where desis come a lot ki nearer. 

 

so u guys already got that it is rental target. nen bachelor and might get married in few months. so appudu rent ichi move out avtha as desis lekunte it might not work out for the girl. apati varaku ill opt roomates and pay mortgage. 

 

rent at max $1100 osthadi kani HOA high amount $285/mo undi (which includes cable, internet, trash, snow, landscaping, etc and exterior maintaninance and bbq spots, hazard insurance.)

oka case lo $120,000 ki set avthe.. na montly payment with 10%down payment 15yrs loan expected to be $1200- $1300. with HOA, owners Insurance, mortgage(mortage insurance, PMI) Misc kalipi

Good investment or risky.

 

 

 

it can be a good rental property but, neeku job aipothe, evaraina chusukodaniki unnara aa area lo.... like did you make any close friends who can help you out.... there are always rental managing companies but I heard they charge around 15-20% of the rent 

[cup_saucer]

8 hours ago, masakali said:

it can be a good rental property but, neeku job aipothe, evaraina chusukodaniki unnara aa area lo.... like did you make any close friends who can help you out.... there are always rental managing companies but I heard they charge around 15-20% of the rent 

unnaru kani property management companies inevitable emo na case lo.. as im on ech1. manam property rent ki direct ivacha.

[yankees]

18 hours ago, cup_saucer said:

Friend vala Friend kosam kadu idi nakosame.. so pls nen genuine ga asking this opinion

 

oka pedda state ki captial city, not like boston kani chinna city lo oka condo with small area 960sft. illulu anni athukoni unnai.. intiki mundu parking kakunda.. oka place lo common parking to all 15 condos.. apts size anthe unnai... 

 

2 bd 1.5bath with unfinished basement. listing price $140k.. nen 100k - 110k aithe offer chestha.. school dist 3/10 so no scope to increase in price in future. kani main road that leads to downtown main towers, state campus, state univ ki walkable or cyclable and oka chinna college where desis come a lot ki nearer. 

 

so u guys already got that it is rental target. nen bachelor and might get married in few months. so appudu rent ichi move out avtha as desis lekunte it might not work out for the girl. apati varaku ill opt roomates and pay mortgage. 

 

rent at max $1100 osthadi kani HOA high amount $285/mo undi (which includes cable, internet, trash, snow, landscaping, etc and exterior maintaninance and bbq spots, hazard insurance.)

oka case lo $120,000 ki set avthe.. na montly payment with 10%down payment 15yrs loan expected to be $1200- $1300. with HOA, owners Insurance, mortgage(mortage insurance, PMI) Misc kalipi

Good investment or risky.

 

 

 

risk y because, if you dont get it rent for one month, it will be a burden if ur married and ur spouse did not work.

if it is for 30 years, you can set it for a high mortgage of 700/ month, if you want to repay soon, you can pay extra 500/month which goes towards principle.if property looks good and if u take it for 30 years, no risk involved. If you are going for 15 years, you might end up in two rents if you are not employed for one month or if it doesnt go for rent for a month.

one more thing, rental ki ivvadam anedi state rules mida depend avutundi, for example in one of the north state where i have my own condo , i have to live 12 months before i rent it, and my association has certain rules that some % of the properties only get rented in an year.

 

One more thing, dont discuss the rental things with lender and realtor, since the rates of mortgage for investment property and primary residence is different, i have rented mine for past 3 years, i'm thinking of refinancing it but the mortgage rates are high for investtment property. if i have to refinance, i have to vacate the tenants and live for couple of months, refiannce for less interest and then rent it out.

[mekapichal_mnthmkora]

9 minutes ago, yankees said:

risk y because, if you dont get it rent for one month, it will be a burden if ur married and ur spouse did not work.

if it is for 30 years, you can set it for a high mortgage of 700/ month, if you want to repay soon, you can pay extra 500/month which goes towards principle.if property looks good and if u take it for 30 years, no risk involved. If you are going for 15 years, you might end up in two rents if you are not employed for one month or if it doesnt go for rent for a month.

one more thing, rental ki ivvadam anedi state rules mida depend avutundi, for example in one of the north state where i have my own condo , i have to live 12 months before i rent it, and my association has certain rules that some % of the properties only get rented in an year.

 

One more thing, dont discuss the rental things with lender and realtor, since the rates of mortgage for investment property and primary residence is different, i have rented mine for past 3 years, i'm thinking of refinancing it but the mortgage rates are high for investtment property. if i have to refinance, i have to vacate the tenants and live for couple of months, refiannce for less interest and then rent it out.

 

[argadorn]

18 hours ago, Chakram12 said:

good man, first condom purchase anukuna. condo purchase also good. safety important 

nenu adey anukuna...emaina sales aduguthunada ani...lol

[cup_saucer]

2 hours ago, yankees said:

risk y because, if you dont get it rent for one month, it will be a burden if ur married and ur spouse did not work.

if it is for 30 years, you can set it for a high mortgage of 700/ month, if you want to repay soon, you can pay extra 500/month which goes towards principle.if property looks good and if u take it for 30 years, no risk involved. If you are going for 15 years, you might end up in two rents if you are not employed for one month or if it doesnt go for rent for a month.

one more thing, rental ki ivvadam anedi state rules mida depend avutundi, for example in one of the north state where i have my own condo , i have to live 12 months before i rent it, and my association has certain rules that some % of the properties only get rented in an year.

 

One more thing, dont discuss the rental things with lender and realtor, since the rates of mortgage for investment property and primary residence is different, i have rented mine for past 3 years, i'm thinking of refinancing it but the mortgage rates are high for investtment property. if i have to refinance, i have to vacate the tenants and live for couple of months, refiannce for less interest and then rent it out.

yep i know this. if u stay for 6 months it becomes living property else termed as invetment prop and interest and tax increases.