Tulsa, OK, Condos Appreciate Faster than Comparably Sized Houses
A condo can be a great retirement investment if you let a renter pay for the equity on your behalf. It is the only retirement investment I can think of where you can get someone else to make your entire monthly contribution. I don’t know how to teach you to get someone to buy you an annuity or IRA, but I do know how to collect income streams off of real estate. Next to employer matched 401k’s, Condo income-streams, for me, are a strong recommend.
Income – Costs = Profit
Condos have better fixed costs than rental houses. The maintenance expense is minimal, condominium property insurance is a slightly more expensive than renter’s insurance, and real estate taxes are thinned by the quantity of units. This is a sexy investment. Some are high-rises looking over rivers and downtowns. Some are nestled in tree-lined greens of common area. There is a Tulsa, OK, condo that is built in a public park.
Condos are appreciating Faster
As compared to one year ago, condo values are appreciating much more aggressively than single family residences (reference to the Case-Shiller Index).
Five years ago, condominiums were among the most distressed sectors of the United States housing market. Investor’s had bailed out on depreciating assets, and condos became more and more unwanted. As condo unit owners stopped paying, their condo associations became under-funded, and unable to pay the unit’s common-expenses. Many complexes failed, and values diminished.
Opportunities in the market
Tulsa, OK, condominiums are making a comeback. Today, along with the revival of urban living, the condo lifestyle is becoming more popular. And many are virtually maintenance free. Condo developements represent one of the best places to find real estate, and potential future cash streams, at “good value” prices. Whether as an owner-occupied residence or as a rental income stream for life, there are opportunities in the market.
To get interest rates and costs for condo financing, click here.
For HUD approved condos, click here.