investing in condo/real estate

[Sonia J.]

Hi All,

I am new into investing market. I am looking to invest in CT or NJ. I looked at some properties in CT.

For example: I looked at 2 family which has been rented for last 20 years. One tenant pays 1100 and other pays 900 and heat and water paid by landlord. Price for this 2 family is 300K. Taxes is 5600.

Another is a one bedroom condo for 69K. It is vacant and rents in that area is nearly 1000 to 1100. Association fee is 272 a month and taxes 1400/yr.

When I compare the above two the ROI for the condo looks much better compared to the 2 family. I am just concerned with the HOA since I have heard many horrible stories. I am seriously confused on what should my decision be?

thanks,

Sonia