Wujohn
A new roof on a 40 to 50 year old house can easily exceed the cost of 10 to 20 years worth of HOA fee increases. Unless you are a retiree with the ability to do much of the fix up work yourself exercise great caution when buying older SFR’s. Additionally the advice for a cash flow investor to buy SFR’s on large lots could be the worst of all. They sell at a premium, tenants wont pay more for a bigger lot and wont take care of it properly. Smaller lots are better for cash flow investors.
There are plenty of folks on this board with lots of experience as landlords who could give you great advice (formersandiegan comes to mind immediately) but the previous poster is not one of them.
Please try to take advice from credible folks on this board. BG is not one of them. Follow the thread on this link and it will tell you all you need to know about her credibility.
