Now, take a look at the condos profiled in my blog which is linked below.
Clearly, the 'real' opportunity has passed if the current trends continue. Although you won't buy at the bottom of the market, you can still get a great value...well, maybe.
Being a very desired water front condo complex with exceptional quality of life amenities the approximately $500 a month maintenance fee can create a real rental handicap.
Now, even if you were to acquire at a great price and found you could rent with a $400 a month positive cash flow, there still may be a poison pill in play. Such poison pills are in the association documents which may state minimum 12 month leases and must wait one year between leases and must own a year before leasing. Did I mention a $500 a month maintenance fee?
So, if you are looking for a low cost condo that will produce positive cash flow...well, you need to pick up the phone and call a Tampa real estate professional.
The direct response to your questions is 'Absolutely, if you choose wisely."
Best of success to you.
Also don't forget the risk of a "special assessment" with a condo association so make sure to review the financial statements and recent board of directors meeting minutes. Also you need to see if there is a lot of deferred maintenance that could end up costing you via large special assessment.
All the best,
To be able to help you with that question I would need to know more about the location of the condo
that you are thinking about. Then I can look up current rents and then as always it comes down to
what you have to pay for the condo weather it is a good investment. Give me a call directy if you would like. 813-505-3474