"Condos stink their worst in declining economies. The ignorant owners will stop paying their maintenance fees. Then the condo board starts taking out light bulbs from the hallways to save $99 a month on electrical bills.
Condominiums should be treated like hookers. Rent them by the day/week/month but never consider buying one permanently. Let someone else marry them.
Like foreign investors."
-Wild Bill @Miamicondoinvestments.com
1 comment:
With all due respect to "Wild Bill," a condo is no different than any other real estate purchase in one respect: location and the neighbors matter. If you buy a condo in a crummy development where there are lots of renters and foreclosures, you're gonna have problems -- just like if you buy a house in a crummy neighborhood with lots of renters and foreclosures.
Bottom line: Do a little homework, and you'll be OK.
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