Buying Retail Condo for Investment

[Carrie Benoit]

HI All, 

Newbie trying to get into the rental investment business. I have a retail condo in mind that suites me well. I have a small side business I can sell items out of the unit and later down the road it would rent well to other businesses. It's in downtown Newport RI so lots of foot traffic and tourism. 

Any stand out advice with do's and don'ts of owning a retail condo?

Thanks, 

[Moises R Cosme]

I do not like investing in condos

1. You do not have control over whether you can lease the unit or not over time because the HOA can set restrictions on the number of units that can be rented

2. The HOA is a variable cost

2a. Assessments are an additional variable cost

3. Condos appreciate in value at a slower rate than single & multi family properties