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Updated about 2 years ago on . Most recent reply

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Jonah Pollock
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General Thoughts on Condos?

Jonah Pollock
Posted

Hi All,

My name is Jonah and I'm new to investing in rental properties. I'm curious what the consensus on purchasing a condo and using it as a vehicle for monthly cashflow is? Additionally, are they any more or less viable for cashflow when in comparison to a single family or small multifamily?

Thank you for your time!

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Jason Wray
  • Banker
  • Nationwide
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Jason Wray
  • Banker
  • Nationwide
Replied

Jonah,

Depends on the loan amount, location, and overall HOA fee per month. The biggest take away is the HOA fee if it's over a few hundred dollars that crushes your cash flow/ROI. You have to also look to see if they restrict STR short term renting like VRBO/AIRBNB. STR can help overcome an HOA fee.

You also have to make sure its not a Non-warrantable condo or have any legal or reserve issues.  

  • Jason Wray
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  • 727-637-4289
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