Is this a good investment?

[BeerMoney]

If you could buy a piece of property for $54,000 and rent it for $750/month? There would probably be $100 or so in condo fees/month, and low property taxes.

[Cleveland Guy]

It sounds like it would be a long term investment more than short term.
$50,000 (assume you put something down) is about $320 per month right now. Ad in $100 in condo fees + 100 in property taxes.

So your at about $520 per month - figure you have maintence and up keep of another $100 a month and your at $620.

So $130 profit a month. or $1,560 a year. But on average your going to be rented about 11 out of 12 months a year - so it's more like ($130 X 11 - $620) = $810.

Not a lot of income. Now long term it become a big win, becuase the property will appreciate. So you'll get a small short term profit, and if you sell in 8-10 years make a nice gain on the appreciation.

[BeerMoney]

Some of that 320/month I would get back.. Not much in the short term like you said, but after a while, it would mostly be principal i would be paying, right?

[Cleveland Guy]

After 10 years you might have paid 20% of the original prinicipal.

It's mostly interest your paying the first few years