Condos

[Angel Dejesus]

Is investing in condos good or bad. Trying to turn around a neighborhood bad stigma. Also how to deal with a bad property manager from the condo association?

[Micki M.]

I'm a big fan of condos and ultimately it comes down to the numbers. If you're starting out and need a lower price point to get into a property, if you're not interested in maintaining mechanical or roofs, if you want managed costs (HOA's) versus the occasional big ticket cost (hot water heater fails), they can be a great option. On the lower price end you will not see as much appreciation but you also shouldn't see a huge price drop if the market troughs, and you'll still be collecting rent. I have a condo that is worth $91k and cash flows $800/mo in Denver, I'd never see that on a SFH that I could afford.

What exactly do you mean by a "neighborhood bad stigma", buying one condo to turn that around might be something to think more about.