Updated about 3 years ago on . Most recent reply
Investing in Condos for rental and cash flow
I am looking into buying my first investment property. I have analyzed the property and the numbers seem like the investment will be a good opportunity for a first time investment. I can
my analysis. Any advice or recommendations for a first time buyer of a condo used for rentals to obtain cash flow?
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How comfortable are you that the HOA fees will remain $150/ mo? Have they had any special assessments in the past 5 years? Your returns can be easily destroyed by HOA fees and you have little to no control over them.
Does the condo association have any restrictions on rental units? This is CRITICAL to understand.
Frankly, I think you'd be better off buying a single family property. You can find plenty in Milwaukee in that price range.