Condo Rental - Call me crazy but I don't see a downside!
I can hear the gasps as I sit here and type. I'm currently wholesaling to raise capitol to invest in buy and hold and I've noticed this weird little niche market here in CT. Wondering if anyone could weigh in on whether I'm missing something. I keep finding these condo complexes where the majority if not all of the units are owned by investors. The HOA's are run by investors and there's a management company in place so there is very little personal management needed (keeping unit rented, collecting rent, evictions etc.). The thing that is so alluring is that they're affordable ($40K a unit) and are above the 2% rule which is almost non-existent in CT. I know there is risk involved in all investing but can people weigh in on what I'm missing here or is this niche a good deal?