Condo to build Equity
Hey all, so I just moved to Phoenix two weeks ago. Im currently living rent free with a buddy of mine for about 2-3 months before I have to get a place of my own. I really believe in the podcasts ethos of, "Just get your first deal", so that is what I'm trying to do. I have some money saved up for a 3.5%-5% down payment on a small condo in the 75k-85k range. There are plenty of people who swear by not investing in condos but it just seems like they're just more risky with HOA fee hikes, potential litigations, etc. Point is, what do you guys think of a condo as a first investment if proper due diligence is performed? Thanks!