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34 comments
I bought my condo 3 years ago for 150 cash . 1200 square feet. Someone offered me 220 the other day. Problem is the Crook county taxes. Doubled last year. Assement is a sham. 5 percent would h a ve been plenty enough. And for some reason houses were not hit as hard. Senior freez for in March because they raised it to 75000. That is doable.
It's better than renting
10 day $950,000,000,000,000
You can tell this video is old because he said “buy a house for 100k”. You ain’t getting a shack in the woods for 100k in 2025.
Dollar is dying so all hard assets are better than fiat.
I bought a condo about 1/2 mile from the beach/pier in Hermosa Beach, CA in 2000 for $200K. Previous owner got a job relocation so corporate relo company had bought it and wanted to move it fast and cheap. A friend lived next door and got me in to bid before anyone else. I sold it for $350k in 2002 when I myself relocated, thinking I did pretty great. Looked it up a couple years ago and found nothing had been updated since my remodel 20 yrs ago, and it had just sold for $1.2 million 😭 It was an old apartment building built in the 1960's that was turned into condos in the 90's. Location is everything.
In european countries like Poland or Germany large part of population in cities live in flats. You can live without car and speend time in well organised parks.
Condos are cheaper to own and they have a somewhat built in property manager. Very good for rental properties. They also attract more tenants so less vacancy.
Poorly run. I want to replace my roof but can't
Beware of the liability with condos … my home burned and then it had a sewage leak after the fire . You are responsible for how it affects others in your building . I lived in a bad neighborhood (my condo ) .. they didn’t raise hoa fees often enough .. most of the owners rented out to renters and it was a very sketchy neighborhood. The buildings were run down . (I bought what I could afford ) . My mom had a much nicer condo .. she had cancer and it was helpful not to have a yard .. but hoa was super strict .. you couldn’t sit on your own upper balcony and the hoa had drones .. gated and very nice but so many rules .
I thought the title said are condoms a good investment?😂
wow. bad advice.
I recently sold my condo for $490k and i want to invest the money in the stock market. However, it appears the market is at an all-time high. Should I invest elsewhere or wait for a market correction?
"Hey Dave, I'm doing great. How have you been?"
"Better than I deserve!"
🤣
Horrible investment. Bought for $200k. Sold 8 years later for $630k. Horrible investment.
Has this advice changed now in 2024?
Fuck HOA’s
I bought my condo as my retirement home. I don't care about it being an investment at this stage of my life. I followed the Baby Steps and retired debt free and have residual income.
A great hoa can turn into a crappy one. That's my worry.
This Housing market crash might end up being a part of us for a very long time. With inflation currently at about 9%, my primary concern is how to maximize my savings/retirement fund of about $300k which has been sitting duck since forever with zero to no gains.
WTF…lol
Condos are not an investment. Rather, they are an opportunity to provide you with shelter and loose money slowly.
Lol
Condos are good investment if you have great tenants who pay rent on time & take care of the property like it's their own. If not, you'll just have one headache after another especially if they destroy your unit & refuse to pay the rent on time or not at all. You can actually lose money from the tenants from hell.
He don't know…
@Ramsey, interesting topic and thanks for sharing
I feel a single family home could be a better deal after factoring in a Condo HOA fee.
Don't buy a condo, the end !
I bought my condo 5 years ago a 35sqm and love it for the price i bought it for 100k dollar and condo fees for everything is 200 dollar a month and i cashed it so i only pay 200 dollar a month now wich feels so good i dont need to stress about some high rent and stuff.
As a single mother I bought a condo paid cash under 40k no mortgage, my work is at walking distance 5 min and I do feel the pinch paying the HOA fee but overall I walk to work and save on gas expense so far not bad decision.
Beware as buildings age. They require more maintenance. Can average people actually run complex HOAs,?
Neighbor girl bought a $136000 condo living a glum drab shared complex building. I am buying a mobile home. Seems ridiculous this condo thing. It’s no different than an apartment.
The hoa is 600-800 and the condos are 500-650k in the Bay Area … it’s so high for the condo that I don’t think it’s worth it.
I've got one. Been a very successful investment. Just make sure you do your research first before purchasing one.
Success is only defined when your are doing your best to grow and learn new things… By the way thanks for the uploads. a fellow creator'''
How do you know if a condo is managed properly before you buy. All you can do is view the property and look at the upkeep outside.