Out of state investing
Hello investors. I am new to investing. Im starting house hacking soon and Im excited and nervous about it. In the meantime I cannot not think about investing on another property and I want to do out of state only because I cannot afford it here in California. Im targeting condos below 100k and I have seen some online. Which is a better area tallahassee, florida or san antonio texas?
Most Popular Reply
Both areas are good, but be careful with condos.
Sometimes they may have limits on how many units can be used for rentals. On top of that, if the association goes under litigation for any reason, it can prove much more difficult to sell the property (it's always important to have an exit strategy on a property). Remember that collapse of the condo/apartment building in Florida a few years back? Since then, the regulations have gotten MUCH stricter.
Do your due diligence, there's a plethora of other reasons to be wary of condos.