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Reply to "Buying DC condo as investment"
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[quote=Anonymous]We've lived in our condo for 27 years, with three years left to payoff the mortgage (even though we rented the first 10 years). We're slightly interested in selling our 11th Floor 1-bedroom condo in Van Ness East overlooking Rock Creek Park and right on top of the Redline Metro. Great building with 24/7 front desk/pools/social room, etc. We want to sell to an investor but also continue to rent it out for the next five years. (No hassle finding a tenant -- it's us). We are willing to carry back the mortgage on a five-year (balloon) basis, so no hassle getting a mortgage regardless of the new Dodd-Frank Qualified Mortgage rules coming in January 2014.[/quote]
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