Question about HOA/Condo Fees

[Jarrod Clavelle]

All,

I love this site!

I'm considering buying my first unit, a small 2 BR condo that is occupied and will have positive cash-flow - including the HOA/Condo Fees.

My question is, what's the group's opinion regarding condos, condo fees, etc?  The fees essentially cover water, electricity, garbage, and structure from the studs out.

Thanks!

[Rob Massopust]

I think they are great. Alot of investors are picky about the HOA fees but most of the fees cover real costs you would endure on a sfr or MF.

I like condos for a bunch of reasons:

1. Easy to Find - Lots of available properties

2. Easy to buy - Easy financing

3. Easy to fix - No roofs, yards or what not to have to worry about, these are covered by the HOA

4. Easy to rent - Condos are usually in much better environs than a duplex or more units. Tenants like the better quality and amenites

5. Easy to rent - See above

6. Easy to Manage - See above

7. Easy to Sell - There are 10 times as many buyers for condos vs multifamily - Larger pool of Buyers means better exit strategy for you. 

Shall I go on....