Most people buy and occupy condos. The same units can also be bought as investments. Buying a condo costs money, just like any other investment, but it also returns money every month. Not every property is going to be profitable, but most can be. The key is to buy and rent at the right price. There are several factors that contribute to that price.

The first factor is the quality of the building and unit. This includes the size of it and as well as the overall look, craftsmanship, and stability of the building. Larger spaces generally cost more, as do luxuries like granite counters and custom cabinetry. When looking at condo that you're considering purchase, ask your realtor whether this is a unit that potential tenants will be attracted to.

The other critical factor in determining price is the location of the unit. Downtown location for example or proximity to subway line will be much more expensive, regardless of the quality. Condos in prime locations may cost more to purchase, but you'll also draw more tenants and at a higher price. Buying an inexpensive apartment in the middle of nowhere could be a smaller risk, but you might end up biting the bullet because nobody wants to stay there.

So when you're looking for a solid investment opportunity, don't forget to consider buying and renting condos. Just be sure to consider the factors when deciding how much to pay, and how much to charge.