Condos in beach towns

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Posted by Carl on November 20, 2008 at 05:33:20:

I've been into RE investing for about 5 years now. I've purchased 3 investment properties over the past 5 years and have been happy with my results so far.

For some strange reason, I have this fascination with beach towns. I really want to own a property at the shore. I guess my logic with this is that I can rent it out and make some $$, but I can also enjoy it during the time it is not rented. Since I live in the Philly area, the Jersey Shore is my area of interest.

I already know that sfhs are a better investment than condos. I just wanted to get some opinions from the experts around here. What kind of thoughts would you have for someone purchasing a condo at the shore? Is a condo still a bad investment even if it's at a beach town?

The problem is that condos are the only property types that are within my budget in this area.

I really want to take advantage of the down market and buy something soon. I just have some reservations about condos and I can't afford an sfh in this area.

So is buying a condo in a beach town a totally horrible idea?

Thanks for the info

Carl


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