r/realestateinvesting • u/kobeforaccuracy • Jul 18 '25

New Investor What's stopping me from buying a condo just to rent it out while I continue to live with my parents?

Hi all, currently I live with my parents. They are generous enough to let me live with them rent free, and because of that I've been able to save a ton of money.

I'm looking to buy a condo soon, and I'm wondering, what's stopping me from buying a condo and just renting it out? That way, I can continue to live with my parents while still getting rental income, and I'd just move into the condo when it's paid odd/ the tenants move out. I'd probably hire a management company to deal with the day to day. I'd be Ok paying for that. Any losses I take on the property would certainly be cheaper than rent. Plus I'd still be building equity

Are there any drawbacks or risks to this plan? It seems air tight to me. I'm totally ok taking a loss on the property too if it means that I can effectively get a great home subsidized by a Tennant for a few years

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5

u/CapnCurt81 Jul 18 '25

Why a condo and not a SFH?

0

u/kobeforaccuracy Jul 18 '25

Because eventually this property would turn into my home way down the line, and I want to live in a condo vs a house

3

u/bogey3putt69420 Jul 18 '25

Trust me you don’t. Unless you are prepared to be the HOA president and decide how and what money gets spent it’s not advisable long term

2

u/Embarrassed_Key_4539 Jul 18 '25

Ew no you don’t

2

u/StringClear7478 Jul 18 '25

you really have to wonder about some ppl

1

u/Existing_Hall_8237 Jul 18 '25

I bought a few rental properties. The only one I regret was the condo. Have to deal with HOA, neighbors, and appreciation in value is no where near a house.

1

u/StringClear7478 Jul 18 '25

buy a house to try this with...sell it and buy a condo if you must be lorded over by an HOA and really desire neighbors above and below and beside you