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Minnetex : Real Estate Advice

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Sun Apr 14, 2013
Al Geffon answered:
This is a very hot rental market, and good properties lease as quickly as they're listed. However, I don't recommend condominium units for investment purposes, especially the lower-priced ones. While the numbers look attractive, rents are generally low, and the maintenance fee is payable, irrespective of whether the unit is leased. If vacant, you must also pay the utilities. There are often several places for lease in the same complex, which puts you in competition, thus keeping the rents down.

We own several rental properties ... four single-family homes and a townhouse. They're rarely vacant, and lease quickly when they are. We're always on the lookout for others, but will not consider a condo unit under any circumstances.

Al Geffon
(713) 213-6350
al@geffon.net
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