Why no love for condos?

[Kelley B.]

These seem to be an OK investment for those that just want cash flow. Granted, they don't typically appreciate as well as a SFH but they look like a lot of good. Professionally managed, exterior done by the assoc, etc...

What 'bad' am I missing?

[Brian Ortins]

@Kelley B. 

I have mostly invested in condos, over other types of properties, but I must disclose that I bought the bulk of my portfolio in 2009, at bargain basement prices.  I still invest in condos, currently one under contract, but I have strict criteria.  Feel free to PM me and I can send over a copy of my evaluation criteria, in Word format.  It is easier for me to invest in condos at this point of my career because as a real estate agent, contractor, I have full control of expenses as well as multiple exit strategies.  My costs are lower because I get commission on the buy and sell side of the transaction.  I own a contracting business, so I control the rehab expenses.  I have also built up a network of passive investors that I can sell as a turnkey condo, if I do not get a retail buyer.  My first option is a flip, keep cash coming in, but I can also sell to investors, or last resort, keep as a rental for passive income.  Long story short, by having multiple exit strategies, I have found success in condo investing.  Each association is different, so reading over the condo docs, and financials, is the first and most important step, before diving into numbers.  I have a lot more to add, so feel free to ask.