Getting started into the REI world and have been analyzing deals and looked at several multi unit places with realtor but none have worked out on numbers (Thx for all the spreadsheets everyone)! After doing some expanded searching there seems to be many condo units going for sale. Thoughts on condo units as buy and hold if the numbers are right. I know it would be slower growth than multi units but there are units available that would cash flow with decent cap. Thanks in advance for input and insight!
There are issue with condos. Owners of condos do not like investors/tenants. Rightly so. Tenants tend to have little regard for rules and are often served with fines which they ignore. This usually gets the investor in hot water with the HOA. Many HOAs are not receptive to investors since they are the home owners in the building. They restrict the number of units that can have renters and they are regularly changing the rules.
Rising HOA fees and special assessments will kill your investment.
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