Advantages of either Single-Family Home or Condo Investing?

[Erick Torres]

Hello BP members - I'm a beginner-level investor in Miami and currently have owned my condo for 3yrs. It's currently been on the rental market searching for tenants since last week, as I search for another property.

My question is, what do you suggest is a better/less maintenance investment - another condo/apartment, or a single family home? I don't have any partners, so that's slowed my ability to add to my portfolio and is the reason why I think I should consider buying something more affordable like a foreclosed or not-foreclosed condo that would be easier to keep after than an actual house (especially if I decide to immediately put it back on the market as a rental property instead of living in it).

Thanks in advance!

[Thomas S.]

Neither produce much positive cash flow. A SFH is way more expensive maintenance wise, equally balancing out the cost of HOA fees in my opinion, and the SFH market is driven by home buyers as opposed to investors. Which may be good when selling but bad when buying.

As far as a low maintenance investment is concerned the condo wins out unless you throw in the maintenance involved with potential HOA management problems.

You are really comparing lemons with lemons financially and I would avoid both.