Working on my first BRRR deal. Budget is low, around $100k purchase price. Want to make sure I have a smooth start on my first one.
There are both condos and houses under my $100k budget in the area I’m looking.
Curious if one is better than the other?
Thanks in advance.
Hey Jeff! In my opinion, pros and cons to both - Pro's of a SFR would be, your own land, more privacy and more equity to be had usually (at least in my area). Pros of a condo would be no yard matin, trash etc - Cons would be, HOA fees would eat at your cash flow potentially but as long as you figured that into your numbers youd be good. Also some HOA's dont allow owners to rent them out (be sure to check that) Anyway - I guess the real answer would be - buy the best deal you can find - regardless of it being a SFR or Condo. I hope that helps
@Sean Lunny thanks for the input. I didn’t realize hoa can prohibit u from renting out the condo. Thanks for the heads up on that.
Makes me wonder what else I’m missing lol