Buying a Condo is a BAD INVESTMENT Idea - 6 Reasons Why
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- čas přidán 29. 06. 2024
- Buying a Condo is a BAD INVESTMENT Idea - 6 Reasons Why
If you want to own and live in a condo that's one thing. But buying a condo for investment reasons is another. There are too many restrictions above all. And there are better ways to have your money treated better, elsewhere.
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00:00 Introduction
00:11 Buy or Invest
01:25 High Cost Beyond Purchase
02:30 No Land Ownership
03:08 Profit and desireability
05:11 Decision Making
06:07 Hidden Fees & Restrictions
07:15 No AirBnB
07:57 Own - Don't Invest
08:38 Condo Guide Downtown Delray
So right I was looking at a condo a few years ago. I changed my mind and bought an extra house instead.
The house has gone up about $ 100000 in 2 years. The condo has stayed about the same and it had the extras for pool , gym and external maintenance.
So I'm ahead and happy.
The house I'm not renting out. Daughter lives in it rent free.
@chuckmaddison2924 - nice one Chuck. And the amount of $$ you've saved in fees can go toward buying more homes... 👌👊
So the guy who buys apartment buildings says not to buy what makes up his apartment buildings.?
Um, can you rephrase that please? Condos don't make up apartment buildings. Completely separate asset classes. Help!!!
This is market dependent. With rents as high as they are for SFHs in a lot of areas, my condo works for me
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@@johnmwieland I don’t say that as a “gotcha” but just my 0.02
@@Waltuh22232 All good Walt! Enjoy your condo. Do you own and live in it? Rents, like the real estate market, are coming down already. The market is in a MASSIVE shift right now. Pay close attention...
Yes its not best investment unless you intend to live in
Exactly. In that scenario, your condo is your home to enjoy, but not where you plan to see rental income. Nice one Daniel! 👌
@@johnmwieland how about mobile home? Where does that fit in this scenario? Is it a good/ bad investment and when you think?
@@DanielFreeMan365 Well, I have a few friends who own Mobile home parks - not an individual unit. Buy a park! Incredible investment at the right price... Same with boat marinas. Don't buy a boat - buy the marina!