Posted by Gary O on March 04, 2002 at 09:07:50:
First of all I havn’t been smoking s*&t, and I did not say MFH’s is less of a headache!!! I said that maybe a condo is less of a headache, where I only own what’s inside the walls. My thinking is if a condo unit has a good HOA then the entire grounds are maintained by HOA, hence one less thing I have to worry about. Also, in doing my research and punching the numbers I have ran across some condos that would cash-flow just as well as SFH’s and some MFH’s (2-4 plexes). So with that said I was just looking for some input on what other people thought of investing in condo’s.
As for my goal, I am looking at something long term. I see rentals as a little more secure that flipping. If I were to just rely on flipping than that means you could have a bad month or a good month and I don’t want that. What I do want is about 40 - 50 units that are rentals so I know what I can expect month to month. Once I have that monthly income then I would like to get into flipping. See, I have a great JOB right now, I also have $150,000 easy in equity in my current home, and I also have $140,000 in the bank from a past rental I just sold. I am doing very well right now and want that security of monthly income.