Buying a Condo in Tampa? Pros and Cons..

[Krystof Pilisiewicz]

Hi Everyone, I wonder what are your thoughts on buying a congo in the Tampa area and renting it out. I am planning to do this but my mortgage lender said that when comes to condos they require a 30% downpayment because of the foreclosures they had in the past. He advised me on NOT go with this plan. 

However, I want to hear from you what you think of this? Any landlords that rent out condos can advise on their experience?

Thanks!

[Krystof Pilisiewicz]

@Jaron Walling, Thanks for the feedback. Your points are taken!

 From what I see,  90% of condos on the market don`t make sense when comes to investment, but there are Condos that make sense and if you run them by the 'Buy and Hold' calculated on the BP site, they show up with 300-400$ cash flow each month. 

So I am curious if anyone that owns condos in the Tampa area has an opinion on that.

Cheers!