MTR and condos question
New-ish investor here in Houston. Interested in MTR investing and listened to Zeona and Sarah's rookie podcast episode where they described 1-2 bedroom condos as as a good option for this strategy. I've been researching condos near the Medical Center in Houston and wondered if there is anything to look at out when considering buying a condo. I've only owned SFH.
I know the HOA fees can be high but some include all maintenance and utilities which can make analyzing the deal easier because you know what the cost will be.
Anything else to consider?
Thanks for any insight.
You want to see the HOA's financials, meeting minutes, and I would say age of the roofs. Some HOA's are really well fiscally managed, but you do not want to buy it, and a week later get hit for an assessment on the roof or some other major cost. You want to see a reserve fund of some kind for capex.