Investing in condominiums

[Walter Fabiszewski]

How does everyone feel about investing in condominiums... especially long distance? I realize there are some pitfalls to condominium ownership such as having to deal with condo associations, rental restrictions and rules and regulations. As a Realtor I’ve had many people object to purchasing condominiums because they don’t want to “throw money away on condo fees“. I explain to them that they are paying one check to the association rather than having to write monthly checks to a pool guy, a landscaper, an insurance agent (for the common area insurance), roofers, pavers, etc. When I first started getting a little more aggressive with my real estate investing and was buying properties in Florida while living in New Jersey, I liked the idea of condominiums because it was that much less maintenance I had to worry about living so far away. What are your thoughts on investing in condominiums as opposed to single-family houses when you’re investing well out of your backyard?