Investing in condominiums

[Pete Z.]

Hi,

Just wondering if there is anyone out there that invests primarily in condominiums as a long term buy and hold strategy.  I currently have 54 and it has worked out fairly well over the past 17 years.  I would like to connect with others who have done a similar strategy.

[Michael Boyer]

The appreciation probably varies alot by location and even association...someone may have a number on the appreciation differential between sf and condos historically but your local market probably matters most (like actually looking at your MLS or sales data and even the appreciation rates in specific areas/neighborhoods)....

I think the association side can bog down some investors.You really have to do DD on the association, its financials, politics, etc...They vary so much....

 Like some condos can't even seem to cut the grass or clean the common areas. Others run really well...

But either way, you have a more people intensive operation.....and investors like to be able to have some control (which you lose to some extent in the condo)... 

But there are upsides..You are right.... Like I just did taxes.. I have well maintained condo at a good association that was occupied all year and had like just a couple of receipts (along with fixed items like dues, taxes, interest, etc).. It was like one carpet cleaning and a few light bulbs... Whereas my fourplex had a two inch high stack of expenses, many for exterior maintenance and repairs.....  

A condo in a good association can be a decent investment on many areas--also very marketable and easy to manage.... There are millions of non-owner occupied condos in the housing census data, so some people are making it work....Best of luck...