Condo Confusion

I have found a building that I would like to purchase and rehab into condo's. My question is once I sell the condos don't the buyers own them? Where is my cash flow after they are all sold?

Thanks! smile

Comments(4)

  • TheShortSalePro5th December, 2003

    That's quite an ambitious project. Condo conversions were all the rage out here (NJ) about a decade ago.

    For cash flow, you can hold mortgages.
    You can annoint yourself King of the Condo Association and pay yourself a silly salary. You can install a MAC machine and/or other vending machines in the common area. You can put up a cell tower on the roof and rent it out to Verizon.

    Sorry. Just looking out the window at our first snowstorm of the season thinking I should be playing golf somewhere warm.

  • Tedjr6th December, 2003

    Make money buying building for a buck and sell it for 2 bucks. You will have some expenses but should make a dime or two profit .

    Good LUCK and HAPPY HOLIDAYS

    Hope this helps some

    Ted Jr

  • Birddog16th December, 2003

    associate fees are where you make your cash flow. For the more part, condo conversions are usually for profit apon selling them. Coin laundry is also a good source for money.
    [addsig]

  • InActive_Account6th December, 2003

    HOA fees are where you make your money?

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