Does anyone believe the condo market is worth the investment?

[Antony S.]

I know of some condo high rise properties, that  are transitioning from leasing to selling.  I also have notice that price per square foot for low rise condo communities are considerably lower than SFRs, though that might be common.  Certainly there are requirement variables different in condo financing than in SFRs(owner occupant requirement ratios, current on payment ratios, and so on.), but does anyone believe that now would be a good entry point?   Thanks

[Teresa F.]

Hi Antony,  Lots of great info here already.  I have a few condos and I love them.  Cash flow great, bought two for 28k each, my rehab was cleaning, rented for 1100 each.  The condo association is 244 per month, ins 256 per year and taxes 900 per year.  I purchased in an area that is gradually improving although if I had to sell now I could move to another investor and still sell at a profit, maybe offer financing.  For me the key is that my tenants know that this is NOT an apartment so the owners around them have expectations of friendly, quiet, clean neighbors and my tenants should have the same expectation.  I also attend and vote at meeting so I am known as an active and informed member of the community albeit investor.   Good luck, Teresa