Hello peeps this is my first post since i joined . i've been looking in my area using redfin to find property and i am looking to buy either houses or condos in the 50k range , now is this a smart move is apartment buying harder to rent out than houses? i am only 22 and really want to have that steady cash flow coming in . In anyone's experience that has bough either or , what would be the best suggestion that i should take, mind that i am not buying cash since i dont have that kinda of money but would buy it with bank credit.
Always buy a house, it holds it's value better over the long term.
I agree house are better than condos, not only for better value but condos have issues like condo associations and condo boards and extra fees that cut into cash flow
I own condo's and single family. If I could do it again I would never buy condo's again! They are TOTALLY not worth it!!!!!! The fee's eat into your profit almost to the point where you could have bought a more expense house and have the same cash flow. I even wrote a article about it on my blog.
I am also from Texas and usually single family homes are the way to go in our state! Note that I said USUALLY but what people don't like about condos are the high monthly maintenance fees which you have no control over. Furthermore, they sometimes will charge "special assessments" to cover large repair bills like exterior painting or roof replacements which sometimes can be unexpected.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Join the Largest Real Estate Investing Community
Basic membership is free, forever.