Hey everybody, just wanted to get some thoughts on purchasing investment/rental property out of state. I am currently debating between buying and renting condos vs single family homes. Due to the fact I am not in the immediate area, I am leaning toward condos.
Any thoughts on the subject??
I have done very well with condos. They cash flow better per unit than many multi families in the area. Not having to deal with exterior maintenance is a big plus.
Jeff In Ct
That is true it is a HUGE PLUS!! on the other hand in most areas condos do not go up in value like SFR’s and have a longer DOM (DAYS ON MARKET)to resale it is kinda a catch 22! Do you want 6 eggs? or would you like half a dozen?
How about townhouses? Seems like best of both worlds, less outdoor maintenance, popular seller to first time home buyers, popular rentals too. No nightmare condo assoc, but usually still an HOA. Don’t know how the price moves relative to detached homes.
Mike