Are Condos Good Investments? The SURPRISING Truth

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In today's video I will discuss whether or not investing in a condo is a good idea. A little known fact is that I'm the owner of an investment property condo myself in the downtown Chicago area and since I've owned it, I've learned quite a bit about having a condo as an investment. In this video I'll cover the pros, the cons, and the things I think you can call a toss up because they have both positives and negatives.

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VIDEO NOTES

Pros:

Limited Problems
Cheaper to Purchase
Great Location at Reasonable Price
Maintenance is easier (Because I have a maintenance team at building)
Build Equity
Cheaper to rent,
Can possibly AirBNB the unit
Can bring in monthly revenue/profit

Cons:

Association Fee (Will also go up over time)
Rental restrictions (owner occupied units requirement/maybe no AirBNB)
Owner Occupancy Rates Impact lending to new buyers (Number of owners in units versus renters)
Surprise Assessment increases
When selling, HOA balance will impact the sale of your condo. Bad HOA = Harder to resale
Toss up:

Homeowner Association Rules and Regulations. Bad can change rules (no more airbnb or no more renters) Good - They make all people follow rules to avoid issues
Renovations - Good, have to follow rules and get approval Bad, can take awhile to get things done.
Slower Real Estate Appreciation / Also slower Depreciation

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Видео Are Condos Good Investments? The SURPRISING Truth канала OneHourProfessor