Quote:
Originally Posted by Trochu
Being a condo, my first task would be to check the bylaws to see if you can actually rent the units out. Secondly, I'd run the numbers to see if it's financially sound to rent vs selling. Thirdly, I'd strongly consider managing it yourself if you're able.
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This
Plus you need to look at long term value, history/potential of a special assessment, history of condo board decisions, and ALL the condo rules
I own two I can’t get out of, constant upkeep and growing mortgage costs eating my personal cash flow because rent can never go up, never made a dollar of profit. So my opinion is unless you really need the monthly income and it works out like that, to sell it and get the heck away from real estate.