Thoughts on condo investments?
I just closed on a condo.
163k purchase price
5k in renovations (diyer)
Rent $1700
COC return = 14%
The only downside here is there won’t be much appreciation. It’s a small purchase price for my area. So I figured it’s a good hedge against inflation and at least my savings is bringing me a return. I also removed my ability to invest in larger deals shall one come along.
What is everyone’s experience with condos as an investment?