cheap picks
cheap picks
Does it make sense to buy cheap condo near or cash flow breakeven in the hope that they will appreciate?
I am a novice investor and want to start with condos because they are easy to handle, but when I'm running the numbers, I'm going to cash flow by $ 100 or less near the equilibrium point after the mortgage, taxes, HOA, property management, and warranty? any advice on this strategy? Will these appreciate in the future? Right now they are sooo attractive economic to collect a few villas in nice areas you can rent quickly …
Well that depends market in your area. There's a reason why condos are cheap though. They are harder to sell and do not appreciate as fast as houses. HOA fees can increase at will, well, and can triple in one year - there is a limit to increases in HOA fees. Condominium associations can not prevent the common area as well, making harder to sell, and if the% of owners to renters below a specific level, mortgage banks not Condo - what is needed do some homework (PS: Is there something you see in the area at all? If not, houses are selling better).
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