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Old 03-22-2008, 10:12 PM
 
Location: Manhattan
361 posts, read 1,947,120 times
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Hello,

I know very little about real estate - which may become obvious in a minute - but for those of you who are familiar with the market in the Newark area - would it make financial sense to buy a ONE bedroom condo and then sell it in 4 years?

I suppose one could keep it as rental property, if the assn. allows it.

Thank you in advance for any input...
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Old 03-23-2008, 03:27 AM
 
Location: Delaware Native
9,722 posts, read 14,260,591 times
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Quote:
Originally Posted by katreese View Post
Hello,
I know very little about real estate - which may become obvious in a minute - but for those of you who are familiar with the market in the Newark area - would it make financial sense to buy a ONE bedroom condo and then sell it in 4 years?I suppose one could keep it as rental property, if the assn. allows it.
Thank you in advance for any input...
It depends, Katreese. There is a market for one bedroom units, but PRICE is the real issue. If you get it at a reasonable price, and in an area close to U of D, I don't think you can go wrong. Also, find out what the condo fees are and what would be their rate of increase. Lots of people buy those for investment purposes.
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