CONDOS WITH HOA/ ADVICE

[Trenton Mattson]

In Good areas of CA I'm seeing some opportunities in potentially buying condos. Wanted some input from people that have bought condos that have HOAs. Are condos better for long term maintenance costs? Benefits of an HOA in a condo community? Pros and cons? 200-350k for condos seems like it could cash flow in CA. This would be pricing for local condos to me for my first property, I know out of state is more affordable but want to get the process down locally first. Thank you!

[Andrew C.]

also...check with the HOAs docs and make sure that you're able to rent it out. I looked at condos (in another location) some time back, and 90%+ had bylaws that made purchasing a property as a rental infeasible - must own for N years before you can rent, or at most 5 out of the 200 units can be rentals at a time, or can only be rented to members of your immediate family, etc.