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Old 06-10-2013, 01:07 PM
 
151 posts, read 212,111 times
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Anyone have thoughts on these from an investment point of view? Seems most investors are buying up single family homes, I am wondering if that is leaving some opportunity in condos.
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Old 06-10-2013, 06:39 PM
 
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investors buy single family homes because those are better investment than condos. Do you think you are smarter than most investors?
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Old 06-10-2013, 06:47 PM
 
Location: Salt Lake City/Las Vegas
1,596 posts, read 2,797,006 times
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Quote:
Originally Posted by Scott456 View Post
investors buy single family homes because those are better investment than condos. Do you think you are smarter than most investors?
Depends on the condo. Some of the Strip condos are appreciating faster than single family homes. But, most folks can't afford to invest at that level.

Bill
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Old 06-10-2013, 06:50 PM
 
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1. Park and Manhattan are not really strip condos, nor high end. A lot of investors could certainly afford them if they wanted to.
2. association fee will eat a big chunk of your rent income on condos.
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Old 06-10-2013, 08:30 PM
 
Location: Salt Lake City/Las Vegas
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Originally Posted by Scott456 View Post
1. Park and Manhattan are not really strip condos, nor high end. A lot of investors could certainly afford them if they wanted to.
2. association fee will eat a big chunk of your rent income on condos.
I know that. I was responding to your simplistic and snarky put down to the OP that, "Investors buy single family homes because those are better investment than condos. Do you think you are smarter than most investors?"

Bill
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Old 06-10-2013, 09:20 PM
 
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Originally Posted by UTES View Post
I know that. I was responding to your simplistic and snarky put down to the OP that, "Investors buy single family homes because those are better investment than condos. Do you think you are smarter than most investors?"

Bill
OP mentioned Park and Manhattan specifically, and my post are in response to it.
Did you bring in strip condos for the sake of arguing?
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Old 06-10-2013, 09:44 PM
 
12,973 posts, read 15,726,792 times
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Originally Posted by gaash2 View Post
Anyone have thoughts on these from an investment point of view? Seems most investors are buying up single family homes, I am wondering if that is leaving some opportunity in condos.
Nope - Manhattan is 82% and Park Ave. is 88% not owner occupied.

Or in other words they are pretty much investor buildings.
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Old 06-11-2013, 01:45 AM
 
351 posts, read 834,897 times
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I tried for over a year to buy a second condo in Manhattan & couldn't find anything. My fair cash offers were always outbid. Anything priced right is snapped up immediately. There are 700 units here & right now there are only 6 for sale, with 3 priced about double what they should be. Good luck finding something! And of course you'll need cash.
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Old 06-11-2013, 02:12 AM
 
2,719 posts, read 3,475,595 times
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Originally Posted by Scott456 View Post
investors buy single family homes because those are better investment than condos. Do you think you are smarter than most investors?
3 of 4 units in my building are investor owned and being rented out!! They are pretty much buying anything worth buying out there and playing the waiting game.
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Old 06-11-2013, 12:13 PM
 
1,374 posts, read 2,423,539 times
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Originally Posted by Clarkcty View Post
3 of 4 units in my building are investor owned and being rented out!! They are pretty much buying anything worth buying out there and playing the waiting game.
So there you have it. To the OP, don't hesitate to buy Park Ave or Manhattan condos if you can grab one in this competitive market.
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