Just wondering how the townhome / condo investing is in the Atlanta area ... I don’t hear much about them so I figure I would ask ? I know the HOa on those things can break a deal.
I don't but folks in a local REIA I'm a member of do. They are having a Sat class on 10/19, just letting you know. See calendar off gareia.com .
There's issues with checking out the HOA, is it well funded, do they limit rentals, what is the percent today, what is the HOA fee. Folks I know who specialize in townhomes only buy sub $175/mo HOA fee...
Thanks for the insight.
I’m going to look into that class
I have a few investment condos in Marietta. As you mentioned the HOA is the critical piece when investing in Condos/Townhomes. Not only do you have to read the bylaws, declarations, covenants etc and verify they do not have rental restrictions you must also verify the HOA is run well. It is absolutely critical that you review the HOA financials and make sure they are in good standing and they are properly reserved. If the HOA is mismanaged or lacks the proper reserves the HOA dues are going to increase or they are going to call for a special assessment.