Condo investments: good or bad?

[Tony Iacovone]

Hello,

I just finished reading a book called "Millionaire by 28" by Todd Babbitt. The author achieved this feat by buying up 50 small condos located in the downtown area of DC. Although he didn't achieve great cash flow from these properties, he built equity in each of them and collectively sold them at a later time.

What do you guys think of this strategy? I understand the "boom" was a big reason for his profits, but what about condos in general? He specifically mentions not to invest in suburban condos, only ones that have excellent locations.

As an investor starting out, the low prices of condos do intrigue me. For the price of one 3 family, I could buy multiple condos in the $50-$60G range.

What do you guys think? Is it even possible to achieve positive cash flow from condos?

Any insight is appeciated.