Pros to Owning a Condo?

[Jacob Maes]

I have been approached with buying a condo in an up and coming area close to Dallas, TX. I think it's located in a great spot and would easily be rented. However, I've never owned one and curious if they are a good asset to hold onto. Seems like they don't have great appreciation, HOA's eat into it, and hard to resell. I'm just curious what other's who own a condo think about them and if you think it's a good investment.

[Bruce Lynn]

What's an up and coming area close to Dallas?   Seems like most condos are in Dallas or Fort Worth and just a scattering around other cities.

Lots of issues with condos as rentals....lots of rules and regs your tenants may not follow....trash out on the wrong day. Items on balcony, noise, pet issues, noise, covering windows, parking in the wrong spots, and on and on. HOA dues kill the returns in most places other than about 5 developments I know about in DFW area. I think you end up subsidizing the amenities for your tenants...pools, guards, gates, fitness center, etc.

Way too many places I see around DFW have a ton of deferred maintenance....so make sure to check that out.....you know who gets to pay for that at some point....YOU.

Rents are probably coming up....so you could get lucky.  With the run-up in SGF prices, you could get lucky when many buyers are left with less expensive condos as the only way to start their ownership journey.

Plenty are probably great places to live in for yourself, but often haven't made great rentals.