Only downside is hoa which someone will end up paying
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Thread: Condo as a rental property?
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01-09-2021, 08:43 AM #1
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01-09-2021, 08:48 AM #2
- Join Date: Jul 2012
- Location: Kansas City, Missouri, United States
- Age: 29
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HOA expenses will cut into cashflow (even if the tenant pays it, it will make its way to you in the form of reduced rent to stay competitive on the market)
And condos appreciate less than single family homes, so there's less to gain on that front
Single family homes seem better to me as rental properties, or a small apartment building... whatever makes the numbers right
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01-13-2021, 06:04 AM #3
- Join Date: Jul 2013
- Location: Humble, Texas, United States
- Age: 42
- Posts: 7,788
- Rep Power: 34861
long term, SFH's will do better than condo's or town homes.
I have 1 Townhome rental in Houston, cash flowing about 250 / month even with the HOA of $300 / month, which pays for water, lawn care, eterior maintenance , paint, roof, etc.
Find a deal, if it works,, it worksJust trying hard to not be a fat sack-o-chit.
Real Estate Crew
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01-24-2021, 07:35 PM #4
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01-29-2021, 01:43 PM #5
The more rooms the better. I did this with really good success, best investment of my life by far.
Rented out 3 rooms consistently for a few years in a condo (interviewed people and posted rooms on craigslist). I made it month to month for flexibility both ways. Sold the condo for way more than I bought it. Would love to do it again, just need to find a trusted partner to buy with. The HOA was no big deal because of the rent payments I was getting..actual felt less stressful for me because of less maintenance. Just have to be smart about picking tenants, some can be a pain but if you do your vetting it's well worth it.
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02-02-2021, 01:24 PM #6
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