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Condo investment tips

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This document provides tips and considerations for investing in condominium properties. It outlines mistakes made by new condo investors such as not hiring a lawyer or accepting unexpected closing costs. Questions to ask before becoming a landlord are also presented, such as whether you have enough time for property management. Condos can be profitable investments if purchased in the right location for renting purposes and their affordability and low maintenance are benefits. However, condo association fees, financing difficulties, and slower appreciation can be potential drawbacks to condo investments.

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Condo investment tips
CONTENTS Tips for buying a condo as an investment Mistakes new condo investors make Questions to ask before becoming a landlord Condos as profitable investment Benefits of condominium investments Potential drawbacks of condominium investments Who should be looking for condos? References
Tips for buying a condo as an investment Know your budget Budget including the closing expenses Buy in gentrifying neighbourhood Think long-term
Tips for buying a condo as an investment Pick a good location Invest in a condo that promises high returns Explore less conventional financing methods Ask about HOA fees rules & condo fees Conduct an inspection Work with a real estate agent
Trust the floor plan Dont hire a lawyer Accept delays Think they have a warranty Hidden closing costs Buy at the wrong time Mistakes new condo investors make
Questions to ask before becoming a landlord Check if you have enough time to spend on the property Is it an active investment role that is in your mind? Are there any better options that can give attractive returns?
Condos as profitable investments Buy to rent Affordability Play the maintenance- free card
Benefits of Condominium Investments Low repair costs High demand due to increased urbanization Shared amenities attract renters More affordable than single home units Upkeeps and maintenance are simple
Benefits of Condominium Investments Low cost Desirable locations Lower maintenance Fewer individual expenses
Potential drawbacks of Condominium Investments Condo association fee Financing difficulties Rental restrictions Slower appreciation
Who should be looking for condos? First time home buyers Boomers & seniors Parents of university students Singles
References https://www.fool.com/millionacres/real-estate- investing/rental-properties/do-condos-make- good-rental-property-investments/ https://www.paulrushforth.com/blog/when-are- condos-a-good-investment/ https://www.mashvisor.com/blog/buying-a- condo-for-investment/
THANKS

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Condo investment tips