Glad you asked. I've been doing this over 30 years. Ever since I began people have told me how stupid I am, told me never to buy condos, looked at me sideways, and more. I love the cash flow. My condos are small, modest, and CASH FLOW like crazy. I invest out of state and have never had trouble finding willing, licensed real estate brokers who specialize in condo management. I don't know why people think there are no managers. There are TONS of them in every state. Depending on the contract (usually they use a state realtor standard lease and lease contract) I have paid between 4% to 10% of gross rents per month for their services. I like North Carolina a lot. Especially Winston-Salem. Especially under $120000 per condo. Money money money. As for appreciation, I have had the same rate of appreciation that houses have based on zip code by zip code. Once in a while a whole area could go bad I guess and lower prices of condos and houses, but I buy in established areas, so no problems. I could go on and on. But I won't because I love that there is little competition. The last place I bought for $60000, zip code 27104. Rents for $815 (rents rising rapidly). HOA is $135, taxes $60, insurance $18, management fee $79. All I can say is 30 years ago they were laughing at me, snickering, being gnarly and whatever. They are mostly broke. I am not.
