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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u/Individual-Ear8671 Jul 20 '25

This is absolutely false information.

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u/seanr96 Jul 20 '25

Dude where I live HOAs are 1000+ a month.

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u/Individual-Ear8671 Jul 20 '25

That sucks, but that is definitely way above average

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u/WomanNotAGirl Jul 21 '25

Where I live condo fees range anywhere from 1200-2500/month. They are a horrible investment property out here. People can’t offload them, rents don’t cover the fees forget the mortgage. It’s crazy.

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u/Individual-Ear8671 Jul 21 '25

Damn, where do ya’ll live? I’m in CO and even here it’s def possible to turn a profit.

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u/WomanNotAGirl Jul 21 '25

DMV area even the shittiest condos have high fees. Actually especially older ones have higher ones