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Well, I've been interested in investing in Real Estate for a while, and am waiting for books I've ordered at Amazon. I haven't read too much yet, so this may seem like a naive question.

I used the link someone posted to www.hud.gov, and from there went thru several links to other agenies, and eventually found what may be a couple interesting properties. One in particular is a 4 room condo for 55K. I know that condo's in the are rent for over $1000/month.

I'm interested in calling the realtor to find out more information. I'm not too serious yet, but would like to go thru some of the motions for experience. After all, action is better than no action. Other than the condition of the condo, what should I ask the realtor? Why it's cheap? My guess is that the interior may be a complete mess, or the condo association has some serious problems.

One more question - how do I use italics when I reply to a post?

Thanks,

Harry
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It isn't possible to show the commands for italics in a message (the system just treats them as an order to use italics and then hides them). You'll find the instructions here, though.

http://www.fool.com/community/foolboards/bells.htm





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It isn't possible to show the commands for italics in a message (the system just treats them as an order to use italics and then hides them). You'll find the instructions here, though.

http://www.fool.com/community/foolboards/bells.htm


Thanks for the info ...
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HMK2059:
Other than the condition of the condo, what should I ask the realtor? Why it's cheap? My guess is that the interior may be a complete mess, or the condo association has some serious problems

That is a good questions to ask. Other than that, just make sure you do your due diligence.

If the interior is torn up, then you need to look carefully. My favorites in that category are places that have a huge animal odor. You can fix that very quickly and inexpensively (relatively), but it is a major deterrent to the unsophisticated buyer.

Watch out for plumbing problems - that CAN get pricey - especially if the property was originally plumbed in polypropolene.

Also pay a lot of attention to the Condo association - I won't run a condo as a rental since I don't want to deal with condo associations. You lose a lot of control.
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