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is a condo a bad investment?

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  • #1

    is a condo a bad investment?

    Currently renting apartment with my gf for 695 I can buy a condo in a nice place for 60k ith 400 more sq ft or I can buy one in a worse neighborhood for 30k hoa for either property is 200 I'm not seeing a major downside so educate me
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  • #2
    ask talisman

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    • #3
      Originally posted by 03mustangdude View Post
      Currently renting apartment with my gf for 695 I can buy a condo in a nice place for 60k ith 400 more sq ft or I can buy one in a worse neighborhood for 30k hoa for either property is 200 I'm not seeing a major downside so educate me
      On punctuation, grammar or a condo?

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      • #4
        Yes
        "When the people find that they can vote themselves money, that will herald the end of the republic." -Benjamin Franklin
        "A democracy will continue to exist up until the time that voters discover that they can vote themselves generous gifts from the public treasury." -Alexander Fraser Tytler

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        • #5
          Get the nicer one. They are not bad investments unless you plan on moving soon. They can be more difficult to sell than a house.

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          • #6
            My wife and I made out pretty good on the one we sold about 4 years ago. The downside is you basically live in an apartment that you have to pay for repairs on, and sell when you want to move. The HOA shit can get ridiculous also.

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            • #7
              CF0 = X
              CF1 ... CFn =X
              CFterm = X
              I/Y = X
              CPT NPV
              Originally posted by davbrucas
              I want to like Slow99 since people I know say he's a good guy, but just about everything he posts is condescending and passive aggressive.

              Most people I talk to have nothing but good things to say about you, but you sure come across as a condescending prick. Do you have an inferiority complex you've attempted to overcome through overachievement? Or were you fondled as a child?

              You and slow99 should date. You both have passive aggressiveness down pat.

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              • #8
                Why not buy it, pay it off and then lease it for additional income when you move into a house.

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                • #9
                  Originally posted by GrayStangGT View Post
                  Why not buy it, pay it off and then lease it for additional income when you move into a house.

                  Was thinking that as well but the cheap one a comparable one rents out for 600 a month just not as nice. The more expensive one has some kind of hoa injunction against owners rrnting more than 30% of condos

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                  • #10
                    it's a great place to have on reserve for a fuck, you know, for the ones you don't want to know where you live......
                    pinto gt with wood trim

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                    • #11
                      Originally posted by Grape View Post
                      it's a great place to have on reserve for a fuck, you know, for the ones you don't want to know where you live......
                      this.

                      i plan on buying 3 on opposite sides of the metroplex; you just never know!
                      THE BAD HOMBRE

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                      • #12
                        Originally posted by 03mustangdude View Post
                        Was thinking that as well but the cheap one a comparable one rents out for 600 a month just not as nice. The more expensive one has some kind of hoa injunction against owners rrnting more than 30% of condos
                        Why would you want to rent out just 30% of your condo? I would think the whole thing would work better. Lol

                        Moving on, Do a lease to own then your tenant can do the repairs too instead of you. And if you have to take it back you can "sell" it again and collect another down payment, just like a tote the note car lot that sells em over and over. And it won't be "renting" it out.
                        Rich

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                        • #13
                          Only thing that sucks about a condo is that HOA eating away at your income every month. If you do your due diligence and the numbers work, and it's in a good area, give it a shot. If you don't plan on managing it yourself expect 10% of rent to disapear.
                          De Oppresso Liber.

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                          • #14
                            Why would you buy a condo when you can buy a house for the same price and not be stuck with others?
                            I wear a Fez. Fez-es are cool

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                            • #15
                              Originally posted by Forever_frost View Post
                              Why would you buy a condo when you can buy a house for the same price and not be stuck with others?
                              This!

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