I was thinking of putting 25k down on a condo and rent it out furnished. I figured real estate is a safe investment but I've been reading a lot of mix reviews about investing in condo's. Any OG'ers have past experience with real estate investment?
First to lose value And last to gain. Home owners fees fluctuate.
Renting furnished is tricky. There aren't a lot of renters looking for furnished.
I am currently living in a condo I bought. After I fulfill my fha obligation of living here for a year I am moving and will be renting it out. I'll make a few bucks a month.
You are better off buying an inexpensive single family home and renting it out. People that rent houses tend to be longer term tenants than people that rent apartments.
I have a town home that's a rental. Got a good deal and it does require less maintenance.
But As a rule I hate hoas with my rentals.
That $200-300 a month you pay out in fees equates to 40 or 50 more thousand dollars you could've spent on the house and had the same payment. That could mean another bedroom or another 300-500 in rent.