Condo Foreclosures

I am thinking of buying foreclosed condos and then renting them out. Has anyone done this and are there any pitfalls in doing this. Thanks. confused

Comments(2)

al88315th March, 2004

You might want to check with the HOA before buying a foreclose condo. The HOA might have restrictions for owner who rent the condo before holding the property for less than a year.

AL
ilmagnifico15th March, 2004

So you are saying that I might have to hold the property for a year before I can rent it out?

Thanks for the advice.

Ray