Condo or detached house?? - Posted by Rosalind Endriga

Posted by Alex on June 05, 2006 at 22:59:44:

Yes, there are maintence fees and that must be calculated when calculating total cash flow. By contrast, a string of single family homes may require a property management company to visit them if there are too many for investor to visit and manage

Condo or detached house?? - Posted by Rosalind Endriga

Posted by Rosalind Endriga on June 02, 2006 at 23:34:08:

I am trying to buy my second investment property and I need advice if I should go for a condo or a house. of course the condo is cheaper, but I don’t own the land…as opposed to the house, though more expensive, I own the land. living area is about the same, 936 sq.ft, 2BR 1BA for the condo at $340k, 3BA 1BA for the house at $415k but I have a beautiful deck and landscaped backyard w/ a huge walnut tree. the condo is located in Benicia, CA, while the house in Vallejo, CA. the condo was a conversion, so everything is brand new. for those of you who are familiar with the San Francisco east bay area, which do you think I should go for? I could rent them both for $1450/mo. The condo has breathtaking views of the Benicia hills. the house has no view, but does have a beautiful backyard.

Re: Condo or detached house?? - Posted by DCO

Posted by DCO on June 04, 2006 at 10:08:49:

As a matter of curiosity, what is your investment plan? In either scenario, you are going to experience serious negative cash flow unless you are putting $200,000 + in cash down. Is this a pure appreciation play? I understand that the market in Stockton is tanking; I suspect Vallejo/Benecia can’t be that far behind.

Re: Condo or detached house?? - Posted by Alex

Posted by Alex on June 04, 2006 at 09:31:42:

Go for the condo. Less maintence on your part, no lawn care and cash flow is key, so a lower price but exact same rent would give you advantage. Maintenence is essentially “built-in” with the condo. Also, don’t fall in love with the property. It’s not for you to live in it.

Re: Condo or detached house?? - Posted by Shriber in CA

Posted by Shriber in CA on June 05, 2006 at 16:47:39:

Don’t forget the HOA fees - some can add an extra $200 or so to the monthly expenses.