Condo Conversion
What you guys think of the condo conversion idea? I plan on doing it here in Mass, where more people bought condo's last year than they did single family homes. Im just not to sure of the specifications of what is nessicary.
I'm also considering. I'm trying to locate a real estate attorney that is skilled and knowledgeable in all the paperwork. There is a lot of paperwork, from changing the status of the property on tax records, to making prospectus for potential buyers.
Hi I'm in Revere, MA and I work as a bird dog are you planing on doing these condo convesions in what part of the State?, I could help you I have some properties that I located and I just need someone to invest I will do all the rest oversee the project and work with the contractors, if you have any questions give me a call or email me **Please See My Profile**
We are currently doing 3 condo conversion projects right now in the South Florida region. It has surpased all other investment opportunities on the market this year for our area. The return investments are giving every indication that these will be extremely lucrative projects for our investors.
Todd Paulk - Investor Relations
www.globalteampartners.com
Approx how much $ in legal fees does and average conversion run? How much difference in legal fees for say a 4-plex vs a 75 unit apt building??
I've done conversions in the metro Boston area.
My legal fees on a two unit conversion usually run $2500.
For the master deed, I'm legally required to employ an architect to plot the structure($2500), and a surveyor to plot the land ($1000).
In addition, the Mass Registry of Deeds charges an outrageous $1500 stamping fee to record master deeds.
Plus, the final version of the master deed must be printed on mylar, which is another $75.
That typically brings the grand total for master deed expenses on a two unit conversion to roughly $7600.
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