To condo or not to condo

[Trina P.]

Background

Me and my husband are brand new to REI and are looking for some guidance. What better place than the amazing BP forums?

So! We live in Orange County, I know, REI is tricky and pricey. It is very appealing to us to invest out of state but are reluctant to do so on our first try.

We have looked into living in a duplex in Orange County but after looking at out of state investing it seams like such a waste to choose this as our first investment with very little cash flow. 

Goals

We want to stop throwing money out the window with renting and start getting our hands dirty in the real estate buying experience. 

My Question 

I have heard left and right that condos are a poor investment choice, however in my circumstance would this possibly be a better solution to purchase a single condo for myself as a first time home buyer? It is significantly more affordable.

Thanks a million!

[Sky Mikesell]

You will hear lots of opinions with that questions. My personal preference is to buy condos in areas that are more vacation driven but that is MY personal preference. For investment property in a normal city like charlotte i tend to avoid them due to excessive hoa dues...   for a primary residence if that is where you prefer living then by all means go for it. while i shop for great deals all the time my wife prefers living in areas i generally dont buy investment property :)