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Updated about 5 years ago on . Most recent reply

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13
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Elena Nelson
  • Indiana
1
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13
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Investing in a condo with an HOA?

Elena Nelson
  • Indiana
Posted

I'm looking at buying a single condo, not the building. The numbers all run great with a CoC ROI of 14%. I'm a first timer and don't know if there's any risk in having to pay a $200 HOA--that includes lawn and snow removal. Also I would not need to worry about replacing roof or exterior of building. Does anyone have any experience or cautions about buying a condo like this? Thanks :)

Most Popular Reply

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141
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35
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Kevin Coleman
  • Investor
  • Chicago, IL
35
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141
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Kevin Coleman
  • Investor
  • Chicago, IL
Replied

Also be mindful of rental caps.  I had to pull out of a contract for a condo because they had a cap on the number of rentals in the complex.  Even if there isn't one now, doesn't mean that a cap cant be introduced later.

  • Kevin Coleman
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