New Member from Bay Area CA

[Meena Balaji]

Hello everyone. Excited to be a part of this forum. I'm from the Bay Area . A techie my profession who loves her job. But Im also interested in real estate.. We became chance landlords this year when rented out our primary residence and moved up .. Since we bought our 1st house when the market was at the bottom, we are doing real well renting it out. Our next investment property we would like to buy and hold. I have 2 questions. If you can share your thoughts/experiences I'll be grateful 1. Would it be advisable to buy a property close to where you live so you a check on it. We plan to have a property manager. Just want to understand if we should be constrains by location 2. Is it better to by a SFH as a rental than a condo Thanks in advance Mina

[Stewart Guthrie]

Condo vs Single Family?

Don't have a super strong opinion here, though condos at lower prices tend to have the issues that always come with shared spaces/common areas and shared walls.  

You aren't in control of how another property owner or tenant lives in their unit and stuff that happens in their property may affect yours.  It generally works itself out but it adds a layer of complexity that is less in a single family home: Negotiating a good neighbor fence with the property owner of the rental house next door can be a pain, but, (short of an aggressive s dog in one yard or the other), it is generally less intense than a neibor's bathtub leaking into your unit, or vice versa. Insect infestations can be touchy as well, ("Who's fault is it?").

Upside of a condo? HOA makes sure the exterior of the house stays looking good and usually keeps a lid on anti-social activity, if any. Acquisition cost can be be more attractive as well I guess.

Just my $.02.

Good luck and welcome to BP!