Condos?-Townhouses? Or Townhouse/condos?
Hey Board,
I'm getting a lot of calls from people with condos or Townhouse/Condos that appear to be in desperate need of help.
My question is:
What kind of success has anyone had doing Sub-Tos on these properties?
I'm subsribed to a MLS service that provides up to date info. (PM me for this site) and there are a LOT of condo and townhouses for sale or in foreclosure.....
Doesnt appear that many people are interested.....
Any thoughts?
Clif 
When I try to PM you I get this error:
ERROR: Search Engine was unable to query the forums database.
Looking to get that URL?
Thanks
Mike
You got it!
Clif
Soooo, I guess no one has had ANY success with these.....or you guys just don't bother with them....
I'm being bombarded with phone calls from these types of distressed property owners.
Clif
Hi there,
I'm in south florida where condos and townhouses abound. You're last post here was in January -- I'm interested in knowning how you've faired with taking condos/TH subject to.
Your insight is appreciated. Thanks.
We have had some luck with condos. We then seller owner finance for a five year period. and we will gladly finance the downpayment for 2 years. Like this.
make $100-$200 mo
add $50-$100 (on the monthly for downpay)
$1000 upfront (dp)
By the the time the five year period is up they are ready for a house and want out of the condo. Good for monthly income, and if you give some insentive they may be a good step to your other properties for sell. How else can they get out of there condo?
Best to you,
Sire
It all depends on your market. If nobody else wants to buy them then I probably don't either. Although, they do make good rentals. Once again, check the numbers and determine if it's viable.
I would think that in Chi-town condo's would be OK.
I would love to get a condo or fifty! I think they can make excellent rentals with few maintenance hassles, and I see quite a few NODs on them because people are behind on the HOA fees.
I was thinking about sub2 condos in the SF Bay area because of the high prices but I'm thinking that it may not appreciate as fast or sell as fast as a home. Maybe that's why no one has answered the question...
Maybe mobile homes? BUT then again, the depreciating value of it makes it tough...
Someone please soothe our anxiety for this issue!