buy and hold condos as rental investment

[LORETTA E.]

I live in South Florida and interested in buy and hold condos as rental investments.

I would only be interested in purchasing affordable housing type condos.

Was wondering if someone could chime in on his/her experiences. Have you used bank financing, hardships etc?

Thanks for any info/advice.

[Elizabeth Colegrove]

be very careful about condos. A lot of them have rules about the number of rentals allowed in the community due to financing requirements. The hoa fees can be expensive too. While we own in hoa "land" it certainly isn't happily or our first choice. While they made sense at the time and we do still invest in hoas we are "very careful" as the fees can quickly a) eat in to the profit b) you would be suprised how much more traditional home you can buy!