Good or bad to add condos to rental Arsenal?

[Patrick Lugo]

I currently only have SFH's in rental Arsenal, thoughts on adding a condo? Goods? Bads?

[Kenneth Garrett]

@Patrick Lugo

A few comments on condos. Make sure the HOA allows rentals and or doesn't limit the number of them. Many people have bought condos to find out later there not allowed, only owner occupied. Check the HOA dues. Does the math still work. Any special assessments coming up; new roof, boiler or other major improvement. I find it's hard to get the numbers to work for a great cash flow. The HOA dues just kill the cash flow for me. I want $300 minimum after all expenses, vacancies, repairs and capex. Although capex tends to be low for most condos depending on the HOA.