[quote=bearishgurl][quote=CONCHO]I guess you two missed the part of my post in which I said that I would continue saving until I could afford to purchase one safely.[/quote]
No, I didn’t miss that, Concho. I’m just very bearish on condos in general. I feel they are a bad investment because indiv. owners of unit(s) lack control over so many desireability, rentability and condition factors. In my mind, predicting the future of most condo associations is nothing but a “crapshoot.”[/quote]
You also missed the part of my post in which I said that there could be good investments in some buildings. Every building is different. I agree with you in general though, they are not a sure bet by a long shot. But I have seen one in the last week that would be cash-flow-positive on day one. Of course there could be HOA issues, that is always hanging out there as a potential problem. But SFRs and multi-family units have other issues like termites, old construction, etc… so they’re not perfect either.
I think if one chooses very carefully though you might be able to get a decent bit of rental income in your retirement and a little work 30 years from now doing management of a couple of your own properties.
