Updated over 5 years ago on . Most recent reply
Buying a Condo as First Investment?
I am starting with around 100k and I am wanting to start in student rentals to lessen the worry of vacancy. My primary issue is that the price tag for off-campus student rentals gets around 200k-400k very quickly. My options for being in student rental territory have been reduced to buying an individual condo, and I am seeking some knowledge to test the viability of this idea. My questions are:
1: Is the rental process any different than a free standing home? I'm mainly wondering if I can freely rent it out and set prices on my own, or if I have to pass through any red tape with the property managers.
2: Are there any common extra expenses? (other than associated HOA fees)
3: If there is anyone who owns individual condos, is there a difference in the marketing to get tenants in the door? (opposed to free standing homes)
My local market is - Lexington, KY
Thank you for your help in advance!