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Updated almost 13 years ago on . Most recent reply

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Rob Cee
  • Lebanon, NH
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Condos in good areas vs. 2-4 units in worse areas

Rob Cee
  • Lebanon, NH
Posted

I'm curious what other buy and hold investors think about condo rentals in good areas vs. 2-4 units in worse areas of San Diego CA. What would you rather have? Cash flow would probably be slightly better on the units in the worse areas. But tenants likely better in the condos in the better areas.

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Nathan Emmert
  • Investor
  • San Ramon, CA
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Nathan Emmert
  • Investor
  • San Ramon, CA
Replied

You've really gotta get over that perception of tenants being better.

Condos scare the hell out of me for numerous reasons. What if the building reaches it's limit on owner occupy and you can't rent it any more? What if HOA fees go up 100% because people aren't paying? What if you can't sell the unit long term because the occupancy is too low for conventional funding to the buyer?

Condos just have a ton of risk, risk you can do very little to control or mitigate. I'll stick to my nice C class areas with quality blue collar tenants.

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