60 million people can't be wrong.....

[David Krulac]

According to statistics, 60 million people in the US live in condos, that's around 20% of the population.  Many people here on BP seem to be anti-condo.  And there are cautionary notes about condos that don't apply to single family detached houses:

1. Association/condo fees need to be considered in the financial decision to buy or not.

2. Some condos have rules prohibiting or limiting rentals, or pets or another aspect not conducive to your investing goals.

3.  Be cautious of special assessments which mask low condo fees.  

4. Beware of developments with too many renters which would prohibit an exit strategy of selling using Fannie or FHA financing.

Other than those considerations, investing in condos is just like investing in SFH, if the numbers don't work and it doesn't fit your investment goals, pass.

Otherwise investing in condos could be a good thing since so many investors are self removing themselves from the condo market, therefore reducing competition.  Thanks for taking yourself out of the game. 

[Account Closed]

Actually even billions of people can all be wrong. Have you heard of religion :-) Secondly owning a condo to live in and owning one as a rental are two different things. The main issue is that in condos you don't have control over the HOA. So dues can go up, special assessments can come and rules can be changed and you can't do anything about it. Thats where the risk comes from. On the plus side, they have much lower maintenance costs and some of the insurance etc is carried by the HOA. Condos are not always a bad deal. Just know the risks.