I am looking into purchasing a condo in the Sacramento area. My boyfriend is a travel OT and I work remotely. Our plan is to purchase a 2 bed 2 bath condo near downtown, or near the university, Airbnb one of the rooms while we are living there, and in June when his contract is up, we plan to move out and rent the entire condo out long term. We are mainly looking to use the property for cash flow as opposed to appreciation. Does anyone have tips on buying a condo, or about the Sacramento market place? This would be our first property, so any tips at all would be helpful!
I'm in Sacramento, not only would you need to make sure the condo allows str but also that the condo allows long term rentals. Some condos complexes are owner occupied only. Have you thought about how you'd want to pay for it?
Research. You must know your market and work the numbers to see if a condo is even a viable investment. It probably isn't since condo's by nature make for poor rental investments.