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Episode 3204:
Buying a condo may seem like an affordable entry into real estate investing, but Christina Browning highlights the hidden challenges from unpredictable HOA fees and changing rental rules to deferred maintenance and limited flexibility that can jeopardize your financial independence plans. This eye-opening guide helps investors understand the risks behind the lower price tag, so they can make smarter, more resilient property decisions. Listen in to gain clarity on whether a condo truly aligns with your long-term wealth-building goals.
Read along with the original article(s) here: https://www.ourrichjourney.com/post/are-condos-a-bad-real-estate-investment-for-financial-independence
Quotes to ponder:
"Rules can change. These changes could include all sorts of intrusive things, like prohibiting a certain percentage of renters in the condominium or barring you from running your condo as an Airbnb."
"If other condo owners aren’t paying their HOA fees, this is going to impact the property. It can affect the resale of your home."
"Compared to single-family homes, condominiums typically drop in price first. Not only that, but the prices of condos generally take longer to recover."
Episode references:
Rethink the Rat Race: https://rethinktheratrace.com
The National Association of Realtors: https://www.nar.realtor
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