Pros and Cons to Investing in Condos and Town Houses

[Misti DelMar]

Hi there!

I'll be buying my first investment property this summer (!)- 

(I haven't narrowed my location yet- I'm from the US but don't live there... but I want to buy in the US). After research, I think I've decided to focus on medium-term renting to start (like, for travel nurses).

I seem to find a lot of townhomes and condos for sale near hospitals, in my beginner budget. 

*Aside from HOA rules, what cons are there to buying an investment property in a condo or townhome?

*Are townhomes and condos difficult to "brrrr"? ( I assume they might be because you can't alter the exterior too much, giving less opportunity to add value).

Thanks for your thoughts! <3

[Yvonne Gallegos]

Hi Misti 

Downside is when in an association/condo community there are usually a limit to the number of leases allowed per year to avoid too much turnover in the community. You say nurses would be your ideal tenant they usually take 13 week assignments. So you would have to make sure the HOA allows for lots than 1 or 2 leases a year.