- Joined
- Jul 19, 2003
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Alright, fortunately for me, I was able to buy a condo prior to starting med school and while the payments are sometimes a hassle, I am managing just fine. Only problem is that I want to move to a more attractive area for people my age, which is also closer to friends and the city's main hospital. I would have to wait a few months before I could sell my condo and I have a feeling that if I held on to it all throughout med school I could stand to make quite a profit 3 years from now.
That got me to thinking whether or not I could rent out my condo while I subsequently started renting in the area I would rather live in. I have no idea where to begin, what potential problems one has to deal with, and difficulty in finding people to keep it occupied. I could probably charge the same amount per month for rent that my mortgage+taxes+hoa fees would come out to, also enabling me to probably live cheaper each month by paying rent with a roommate. Best of all, I would get to hold onto it and let it continue to gain value in an area which is still growing.
Any input would be greatly appreciated.
That got me to thinking whether or not I could rent out my condo while I subsequently started renting in the area I would rather live in. I have no idea where to begin, what potential problems one has to deal with, and difficulty in finding people to keep it occupied. I could probably charge the same amount per month for rent that my mortgage+taxes+hoa fees would come out to, also enabling me to probably live cheaper each month by paying rent with a roommate. Best of all, I would get to hold onto it and let it continue to gain value in an area which is still growing.
Any input would be greatly appreciated.