RE investment options and questions…

[sdrealtor]

I personally prefer to buy 1 bedrooms. The returns are better as the premium to buy a 2 BR is bigger than the premium to rent a 2BR. you also eliminate roomate squabbles that leave you with a tenant who cant pay the rent. There is a large class of adults who are renters and always will be. those are my tenants. I ask them to be the tenant I want them to be and in return I give them a nice place to live as the landlord they want me to be. I dont jack them around on rent and they stay longer. vacancies and fix up costs can be a profit killer. At least that is what i have been doing so far.

[Ren]

[quote=bearishgurl][quote=Ren]Condos usually give a better return than SFRs, even with $200+ HOA fees. And don’t forget what you get for those fees (new roof when needed, no need to pay a gardener $40/month, etc.). HOA and all other maintenance is deductable, as is depreciation of the structure itself. Condos are obviously more risky than SFRs, but not nearly as bad as most people think…[/quote]

Ren, more often than not, a new roof in a condo complex is usually partially or entirely funded by a special assessment of the owners (esp in a small complex).[/quote]

I don’t doubt that’s sometimes the case. However, I have a lot of friends that are long-term condo owners, I’ve spent years lurking in landlord forums, and your post is the first I’ve heard of a special assesment for roof, exterior paint, or siding. These are usually built into an HOA budget as “reserve expenses” separate from monthly maintenance. That shouldn’t change without some kind of mismanagement or a large number of defaults.

[quote]As a condo-landlord, you would need to also factor in occasional special assessments, depending on the age and condition of the premises and financial health of the HOA.[/quote]

Hence my comment about more risk than with SFRs.

[Ren]

[quote=bearishgurl][quote=Ren]Condos usually give a better return than SFRs, even with $200+ HOA fees. And don’t forget what you get for those fees (new roof when needed, no need to pay a gardener $40/month, etc.). HOA and all other maintenance is deductable, as is depreciation of the structure itself. Condos are obviously more risky than SFRs, but not nearly as bad as most people think…[/quote]

Ren, more often than not, a new roof in a condo complex is usually partially or entirely funded by a special assessment of the owners (esp in a small complex).[/quote]

I don’t doubt that’s sometimes the case. However, I have a lot of friends that are long-term condo owners, I’ve spent years lurking in landlord forums, and your post is the first I’ve heard of a special assesment for roof, exterior paint, or siding. These are usually built into an HOA budget as “reserve expenses” separate from monthly maintenance. That shouldn’t change without some kind of mismanagement or a large number of defaults.

[quote]As a condo-landlord, you would need to also factor in occasional special assessments, depending on the age and condition of the premises and financial health of the HOA.[/quote]

Hence my comment about more risk than with SFRs.

[Ren]

[quote=bearishgurl][quote=Ren]Condos usually give a better return than SFRs, even with $200+ HOA fees. And don’t forget what you get for those fees (new roof when needed, no need to pay a gardener $40/month, etc.). HOA and all other maintenance is deductable, as is depreciation of the structure itself. Condos are obviously more risky than SFRs, but not nearly as bad as most people think…[/quote]

Ren, more often than not, a new roof in a condo complex is usually partially or entirely funded by a special assessment of the owners (esp in a small complex).[/quote]

I don’t doubt that’s sometimes the case. However, I have a lot of friends that are long-term condo owners, I’ve spent years lurking in landlord forums, and your post is the first I’ve heard of a special assesment for roof, exterior paint, or siding. These are usually built into an HOA budget as “reserve expenses” separate from monthly maintenance. That shouldn’t change without some kind of mismanagement or a large number of defaults.

[quote]As a condo-landlord, you would need to also factor in occasional special assessments, depending on the age and condition of the premises and financial health of the HOA.[/quote]

Hence my comment about more risk than with SFRs.

[Ren]

[quote=bearishgurl][quote=Ren]Condos usually give a better return than SFRs, even with $200+ HOA fees. And don’t forget what you get for those fees (new roof when needed, no need to pay a gardener $40/month, etc.). HOA and all other maintenance is deductable, as is depreciation of the structure itself. Condos are obviously more risky than SFRs, but not nearly as bad as most people think…[/quote]

Ren, more often than not, a new roof in a condo complex is usually partially or entirely funded by a special assessment of the owners (esp in a small complex).[/quote]

I don’t doubt that’s sometimes the case. However, I have a lot of friends that are long-term condo owners, I’ve spent years lurking in landlord forums, and your post is the first I’ve heard of a special assesment for roof, exterior paint, or siding. These are usually built into an HOA budget as “reserve expenses” separate from monthly maintenance. That shouldn’t change without some kind of mismanagement or a large number of defaults.

[quote]As a condo-landlord, you would need to also factor in occasional special assessments, depending on the age and condition of the premises and financial health of the HOA.[/quote]

Hence my comment about more risk than with SFRs.

[Ren]

[quote=bearishgurl][quote=Ren]Condos usually give a better return than SFRs, even with $200+ HOA fees. And don’t forget what you get for those fees (new roof when needed, no need to pay a gardener $40/month, etc.). HOA and all other maintenance is deductable, as is depreciation of the structure itself. Condos are obviously more risky than SFRs, but not nearly as bad as most people think…[/quote]

Ren, more often than not, a new roof in a condo complex is usually partially or entirely funded by a special assessment of the owners (esp in a small complex).[/quote]

I don’t doubt that’s sometimes the case. However, I have a lot of friends that are long-term condo owners, I’ve spent years lurking in landlord forums, and your post is the first I’ve heard of a special assesment for roof, exterior paint, or siding. These are usually built into an HOA budget as “reserve expenses” separate from monthly maintenance. That shouldn’t change without some kind of mismanagement or a large number of defaults.

[quote]As a condo-landlord, you would need to also factor in occasional special assessments, depending on the age and condition of the premises and financial health of the HOA.[/quote]

Hence my comment about more risk than with SFRs.

[JBurkett19]

There are indeed special assessments for the roof replacemnt and any other major repair. That is why I dislike HOA’s. They have too much power and the regular monthly fees never seem to go to anything substantial.

Special assessments for major repairs are as real as a heart attack.

[JBurkett19]

There are indeed special assessments for the roof replacemnt and any other major repair. That is why I dislike HOA’s. They have too much power and the regular monthly fees never seem to go to anything substantial.

Special assessments for major repairs are as real as a heart attack.

[JBurkett19]

There are indeed special assessments for the roof replacemnt and any other major repair. That is why I dislike HOA’s. They have too much power and the regular monthly fees never seem to go to anything substantial.

Special assessments for major repairs are as real as a heart attack.

[JBurkett19]

There are indeed special assessments for the roof replacemnt and any other major repair. That is why I dislike HOA’s. They have too much power and the regular monthly fees never seem to go to anything substantial.

Special assessments for major repairs are as real as a heart attack.

[JBurkett19]

There are indeed special assessments for the roof replacemnt and any other major repair. That is why I dislike HOA’s. They have too much power and the regular monthly fees never seem to go to anything substantial.

Special assessments for major repairs are as real as a heart attack.

[sdrealtor]

That is why I try to buy in smallish complexes with very high owner occupancy and long term owners. They are more frugal than anyone. That way I have a handful of people sitting on the board looking out for my investment everyday.

With an SFR that I’m not every day, no one else is looking out for my investment. SFR have just as much maintenance.

To each his own.

[sdrealtor]

That is why I try to buy in smallish complexes with very high owner occupancy and long term owners. They are more frugal than anyone. That way I have a handful of people sitting on the board looking out for my investment everyday.

With an SFR that I’m not every day, no one else is looking out for my investment. SFR have just as much maintenance.

To each his own.

[sdrealtor]

That is why I try to buy in smallish complexes with very high owner occupancy and long term owners. They are more frugal than anyone. That way I have a handful of people sitting on the board looking out for my investment everyday.

With an SFR that I’m not every day, no one else is looking out for my investment. SFR have just as much maintenance.

To each his own.

[sdrealtor]

That is why I try to buy in smallish complexes with very high owner occupancy and long term owners. They are more frugal than anyone. That way I have a handful of people sitting on the board looking out for my investment everyday.

With an SFR that I’m not every day, no one else is looking out for my investment. SFR have just as much maintenance.

To each his own.

[Author]

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