thinking of buying a condo (apartment, renter, HOA fees)

[dukenewbie2014]

i am currently renting an apartment at RTP and thinking of buying a condo (2+ bed, 2+bath) for me to live and in the future as a rental property. which area is good for me to buy the condo?
I am thinking of renting out to young professionals at RTP...
any suggestions? appreciated!

[jmcstef]

Possibly the question is what time frame do you mean by "future"? If you're a student now and want to live in it for 3-6 years, get something as close to your school as possible -- minimize driving, because the value of the travel (fuel) savings is probably better than what the property value appreciation of a condo will do in that time frame. Condos/townhomes do not appreciate at the same rate as detached properties in nice neighborhoods on some land. It sounds like you're already thinking about your future target audience for tenants -- RTP professionals probably won't want to be within "college party sounds" proximity, so you may want to look for a balance there.

I've been where you are now (but also deeper in rental property investment), and from what I can tell I'd say find somewhere you really want to live. What appeals to you about it will probably appeal to others later. What you are willing to pay for it now will give you an indication of the rent you'll be able to get in the future. Try sites like Zillow to look at historical value increase.

[dukenewbie2014]

Thank you for your reply.
myself is a young professional
I like the RTP area but dont know how the rental bz is there.

[MikeJaquish]

Davis Park.
Easy renter for RTP commuters.

[Bpobill]

Keep an eye on condo HOA fees. They are usually in the $200-$300 range per month. A townhome is typically much less depending on age.