Newbie - first rental Condo or SFH?

[Preeti Sharma]

Looking at out of state rental properties as first time investor in CT area. Currently navigating New Haven area with 100-200k range. As first timer, should i choose Condo with HOA fees or SFH? Will have to hire a property manager either way. Suggestions/recommendations please

[Samuel Eddinger]

Hey @Preeti Sharma.  In general, condos are the first to decrease in value when the market gets tough and last to go up when the market gets hot.  With that said, as long as you are willing to hold for the long term, either investments will make you money.

I run a PM company that manages in New Haven.  There are good and bad parts of New Haven so make sure you learn about the areas you buy.  I don't know all areas of New Haven personally so I use

https://www.neighborhoodscout.com/ to see areas where crime is high and https://www.jud.ct.gov/housing.htm to see the number of evictions on the street to get a good idea of whether I would feel comfortable managing the property.  These two websites have served me well and can help you make a decision when buying.  

DM me if you want to talk about this further.