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Updated about 6 years ago on . Most recent reply
Buying single units from an apartment complex
As I’m just staring out and Im not wanting to get too far over my head, I feel like this is a good learning point. What do you guys think about buying single units from an apartment complex?
The units are $34,000 for a 2 bedroom 1.5 bath 942sqft apartment. Monthly assoc fees of $138.25. Rents for $585 a month.
Here’s the info from them.
"Bright and clean and move in ready! This great 2BR Condo in Briarwood has spacious BR's, fresh paint, covered patio with steps to pool, laundry and storage spaces are just a few steps from condo front door. Reserved parking spot for the unit. Enjoy maintenance free living and relax pool side during the summer months... Appliances included! Very pleasant community close to shopping and bus... HOA does not allow dogs."
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I thought about doing that but it makes me to nervous. Condo's don't appreciate in value like a single family home. How is it maintenance free? If you own it, aren't you responsible for maintaining it? If the roof goes bad, who pays for it?