Buying Condos Yay or Nah?

[Eugene DuShawn Smith]

So I been having this idea of buying a condos out in Orlando for a while now. Beside the HOA fees their pretty cheap and I think there could be a lot of money in them; buy and sell with a tenant, long term lease with tenants, or even short term Air BNB. what do you you guys think think?

[Nathan Gesner]

It's a personal choice. Florida condos can be competitive because a lot of investors bought them as short-term rentals, so supply and demand may hurt performance. 

As a general rule, I would avoid anything with an HOA. The fees eat into your income and will only increase as time goes on. If it's not effectively managed, you may end up with a huge special assessment for capital expenditures. And if the HOA Board is not run well, the entire community can fall apart.