Agree about the condos from an investment as well as management standpoint. Control is definitely a substantial consideration. Another (if not more significant) concern I keep running into as an investor and broker working with clients relates to financing. In Fresno County (California) you can rarely even secure conventional financing for a condo. Therefore the investors are often required to purchase all cash which of course significantly affects the amount of capital you have to tie up and your ultimate return. Now, I got creative in a small experiment taking a private loan from a colleagues self-directed IRA which gave him a great return and only required me to put down maybe 3%. Your thoughts?
Exactly!!! Conventional financing is hard on condos, especially in those communities where investors represent 30% or more of the owners.
Another reason not to like condos!
Thanks so much, Franklin.
Just wanted to introduce myself. I’m liking the mini-vids. I have recently invested in your CFFU program and the material has changed my whole outlook on money and leverage. I definitely want to continue learning to begin my own real-estate career.
Thanks so much for reaching out. I am getting a lot of positive feed-back on the videos. This is a good thing since I always have plenty to say, but never enough time to write it down. Video format suites me much better, and I am excited to hear that you guys are enjoying it well!
It’s wonderful to hear that CFFU was useful to you. I’d like to think that it is the best training and the best value out there. So glad you are able to benefit from it. Justin!
Stay in touch! Ben
Love the vids – my eyes get tired reading all the time 🙂
I agree – I could never in good conscious recommend to anyone, investor or homeowner, to purchase a condo, for all the reasons you gave. Nice points!
Hah – I knew you’d like my fabulous persona on video even more that you like it in print 🙂
Thanks so much, Sharon!
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