Condo/Townhouse - Posted by ADS

Posted by Jon Richards on July 23, 2001 at 21:19:36:

Mr or Ms ADS: Here is a bad, but illustrative joke, with the answer below: Which one of these does not fit with the others? Syphilis, AIDS, condominiums, or gonorrhea?

The problem with town houses and condos is that they don’t appreciate as fast as single family homes, have sometimes onerous home owner dues, and depend on the home owners’ association for up keep. They can be quite risky unless you can buy well below fair market value.

The answer is Syphilis, because you can get rid of Syphilis.

Good luck

Jon Richards,
NoteWorthy newsletter
www.noteworthyusa.com

Condo/Townhouse - Posted by ADS

Posted by ADS on July 23, 2001 at 17:37:40:

Hi,

What are the pros/cons of owning a condo/townhouse for 2-5 years and later use it as a rental property?

How are they compared to single family houses?

Thanks for your input.

ADS

Re: Condo/Townhouse - Posted by Sean

Posted by Sean on July 30, 2001 at 13:25:47:

Everything sells if the price is right. Condominiums are no more or less risky than any other real estate investment. The trick is to manage that risk.

Most problems with condominiums come through poorly constructed CC&Rs. There’s a book out there called, “Smart Trust Deed Investing in California” by George Coates that goes through what to look for in CC&Rs quite well. Try to pick up a copy if you get the chance.