Condo investing for beginners

[Diane Heidke]

Hey everyone, I’m a newbie investor looking to do my first deal within the next 6 months. I originally wanted to invest in multi family properties, but they seem to be few and far between in my area, and the properties are overvalued based on what I could get in rent. I found a condo (one unit) where the numbers seemed to work based on my personal goals, in an appreciating market (Raleigh N.C.) I’ve read about 15 real estate books in the past year, and not a single one talked about condo investments, so I’m curious if anyone has done a deal, good or bad, id love to hear your experience. Of course HOAs can eat into your cash flow, but could HOAs also be a positive for a first deal, since now I don’t have to worry about lawn, landscaping, snow removal, and big expenses like roofs that could wipe out all my cash flow for the property? Curious to hear your experiences. Thanks! :-)