2BD/2BA Condos - DMV area

[Juanita Brazziel]

Hey guys...

So I went hanging out with a Realtor to show me this house (I'll ask questions about that one later) but then she showed me a 2BD/2BA condo that was near public transportation and needs really only cosmetic work to be a really good rental ($700 or more per month) according to the calculator on here.  

My question is are 2BD/2BA condos a good investment? I'm from the Midwest so not used to seeing a lot of condos but the numbers on this looks very promising. Thanks for the help.

[Josh Mitchell]

@Juanita Brazziel

Condo's can cash flow pretty well in some areas, HOWEVER, did you include your HOA monthly fees into this calculation? Keep in mind that the HOA can vote on things and raise up HOA dues, which would eat into your profits. I own 2 condo's and although they do cash flow nicely, both of the HOA fees hurt to pay each month, not to mention they have gone up each year......