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Updated over 4 years ago,
condo vs sfh when you don't live close by
I understand that SFH will have greater appreciation and most likely less turn over but was wondering if I were to manage it myself but it was somewhat far away would a SFH still be a better investment or a condo. With a condo at least I won't have to worry about the roof and exterior maintenance. There are also neighbors in the complex who can check on things as well as HOA who will let me know about violations if they are happening vs. a sfh, I am in the dark unless I actually go by to inspect it. What do you guys think?
I read a lot about Multi family is the way to go, but in los Angeles, I would highly recommend preparing for RSO. The real estate game has changed immensely if you are under RSO(rent stabilization ordinance). Essentially you cannot move a tenant out unless they are damaging your property and even if they are, it will take months if not years to get them out.
I'm looking at a condo which will bring in less income, but also less headache. Please don't suggest getting a property management company, because they will eat up a lot of the profit. In southern california I noticed, the rent difference for a condo and a house isn't so big, but the sales price are huge. So i'm leaning more towards condos. SFH seem to be harder to get cash flow if i used 25% down on either property