I'm buying Eight 2bd condos in Seattle area to rent out and generate monthly income. My 2 questions are: • 1. Are 2bd/2ba & 2bd/1.5ba worth price difference of around $50K above 2bd/1ba for rent income in long term? • 2. Should I buy the 8 x 2bd condos in different buildings, or as a one 8-condo complex to have more control on HOA?

@Adrian Chu makes some good points. Let me add that the extra full bath can help you if you're looking to market to folks that want a roommate. Having one bath for every bedroom opens up many creative options. And, as a side note, pay close attention to the HOA's reserve study to make sure it's well funded. Otherwise you could be hit with a special assessment that could break your heart.

My clients and I have been buying, holding, and flipping condos since the bubble burst. 1. Depends on the location and overall price per unit. 2. Do not concentrate in 1 condo complex. If the investor confetration is too high, future buyers in that complex won't be able to get financing. This affects 2 things: owner occupancy rate and single owner concentration requirements. Let's chat!

@Mike Hanson - speaking personally, I would first and foremost not make such a large investment in condominiums in general. The lack of control over annual costs are a risk that I am not particularly comfortable with. That being said, if you are good with condo investing, I would probably base my decision on the degree of control that buying 8 units in one building gives you. i.e., if it's a small complex and 8 units gives you ~50% control, I would probably go for that. If it's like, 100+ units, then 8 units doesn't make too much of a difference unless the numbers are there. Also, 2ba vs. 1.5ba, you're looking at increased initial buy price, PLUS likely higher maintenance costs going forward. We don't know your numbers, so can't say if it is worth it, but it probably isn't worth an extra $50K/unit, if it's an extra $50K spread across all 8 units...maybe.

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Updated about 9 years ago on 02/08/2016. Most recent reply

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Mike HansonPoster

Investor
Seattle, WA

General Landlording & Rental Properties

Is 2bd/2ba worth price difference above 2bd/1ba for rent income?

Mike HansonPoster

Investor
Seattle, WA

Posted February 08, 2016 08:42

I'm buying Eight 2bd condos in Seattle area to rent out and generate monthly income.

My 2 questions are:

1. Are 2bd/2ba & 2bd/1.5ba worth price difference of around $50K above 2bd/1ba for rent income in long term?
2. Should I buy the 8 x 2bd condos in different buildings, or as a one 8-condo complex to have more control on HOA?

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