Condo or Multi-Family?

[Dinesh T.]

I have heard that multi-families are better than condos, but my analysis shows me otherwise. Please advice if I should pull the trigger on the below condo:

Condo: Offer: 62,500; Rehab: 10,000; Rent/mo: 1300; HOA: 200, Tax: 1400, Maint: 1716; PM: 1430, Admin: 300; 25% down @ 4.5% interest; NOI: 7051, Cash Flow: 4201, CAP: 9.52%

Multi: Offer: 82,000; Rehab: 30,000; Rent/mo: 2000; Tax: 4000, Maint: 2640, Insurance: 2500, Util: 1300, PM: 2200, Admin: 300; 25% down @ 4.5% interest; NOI: 9050, Cash Flow: 5318, CAP: 7.95%

[Adam Bartomeo]

I would tell you that it's not about the numbers when it comes to condos but that it is about control. You must follow what the condo ***. puts into the by laws and they can change them almost any time they want to. Sometimes there are rules about colors, plants, trees and renting. How would you stay in business if they told you that you can no longer rent the condo? You would be out of business along with the other investors in that condo, trying to sell lower then the next guy. It has happened before.

I prefer to make my own rules.