Updated about 4 years ago on . Most recent reply
Condos as an investment for rental props? Pros/Cons
Hey everyone,
Happy Friday.
I have heard and read several arguments on why/why not to invest in condos as long term rental investments. I have been on the receiving end of a good and bad experience and I think with learnings from it can lean towards the pros of investing in the RIGHT condos but wanted to get some feedback.
Yea, HOAs can eat up some of your profits - but I see those as almost a CAP EX percent being set aside each month to deal with bigger issues. Also, I have a unit in a investor friendly building that is to date - my most profitable and highest cash flow per month investment thus far. With so many luxury apartments being built up, there has to be a tier for more affordable housing for people that want to live in apartment type set ups (not deal with yards etc) but do not want to pay $2100 for a 640 SQ foot place in the suburbs of Chicago. (No joke, just pulled similar comps on a new development for an apartment building in one of the NW surburban downtown cores.)
Has anyone invested in condos and rented them out? Good / Bad?
Thanks,
K-Man