Home Buying in Monroe>Question Details

2day, Home Buyer in Monroe, OH

For investment purposes, to buy homes and rent out. Is Monroe, OH a good area? What is your opinion of condos for investment?

Asked by 2day, Monroe, OH Mon Aug 9, 2010

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Single family homes are more in demand than condos and do command high monthly rental rates. Several of the condos in Monroe are not able to be rented out due to the HOA guidelines. You'd have to be careful before buying a condo to make sure the association allows that.
0 votes Thank Flag Link Tue Jul 24, 2012
As a local agent in the Monroe area who has buyers and sellers in this area, constantly, I would say yes, Monroe is a great area to invest! This is a wonderful, quiet community that is and has always been booming and very attractive to new and old buyers as well.

As far as investing in condo's, I've know several people that have had bad experiences in investing in them, given the condo associations, assessments and the rising foreclosure rate that effects everyone in the association. You must really do research, or have an agent , help guide you in this process so that you know everything there is to know about the unit and the entire association before investing. Look me up on Sibcy Cline's website and give me a call if you have any further questions!
0 votes Thank Flag Link Thu Jun 21, 2012
I receive a lot of requests for a home to rent in the Monroe area. They are very difficult to find and when you do find one, expect to pay a healthy amount for rent each month!
(that should answer your question about investing in Monroe)
Let me know if you need any assistance.
0 votes Thank Flag Link Fri Jun 1, 2012
2day Monroe can be a good area for rental properties. I would look at single family homes. You tend to get a more stable tenant and it is easier to buy them right and increase value by doing some repairs. When it is time to exit your bussiness single family homes are an easier resale than a condo. Also with a single family the tenant is responsible for yard work on a condo the monthly HOA goes on and on.
0 votes Thank Flag Link Wed Aug 11, 2010
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