I need advice and estimate costs

[Guillermo P Manso]

Hi everyone,

I’m looking to buy an apartment/condominium in the DFW area. I’m not from the US and currently live in Europe most of the time.

I’ve found some apartments that could work well for my needs—I plan to rent them out on Airbnb and reserve a few nights for myself when I travel there for work.

My question is: apart from the purchase price (I’ve seen listings on Zillow averaging around $150k in areas like downtown Dallas, Old East, and Plano), what other costs should I expect—both during the acquisition and in monthly payments?

Thank you all!

[Jonathan Greene]

There are a million other things to consider trying to do STR in a condo. Does the condo complex have rent to own percentage restrictions (they all do, you want to know what percentage is allowed and what percentage it is at now)? Does the condo have STR restrictions (some only allow one-year leases)?

Since you are out of the country and seem inexperienced, when buying condos you also have to assess the viability and strength of the HOA, pending litigation and/or assessments, and parking per unit.