Are Condos Any Good???

1 Reply

I've currently been scanning the market near the Texas coast. I love Padre Island, TX and I wanted to have my own Air bnb out there since I know it gets crazy busy during summer and spring break. When looking for an affordable investment property down south I ran into many condos. I have never considered a condo a very good investment property but it's probably just because I don't know much about them. If any Air BnB or condo owners have any advice or wisdom about condos as an investment property I'd love to hear it. 

Thanks for your time,

SarahGrace

@Sarah Sanchez-Vega The finances can definitely work and make it a good investment, but generally, condos are a little harder to make work. Firstly, the HOA fee is kind of like rent. It doesn't amortize into any equity which means it's often a decent chunk of money that you're wasting.

Secondly, being a part of an HOA means you need to abide by the associations bylaws. In most cases, this isn't an issue, but it does give you less flexibility.