co-op vs. condo - Posted by Frank

import · September 30, 2002, 1:00pm

Posted by Tye on December 27, 2002 at 21:08:46:

What about building single two bedroom cottages and offering the cottages as condos, what are some of the concerns?

import · September 30, 2002, 1:00pm

Posted by Frank on September 30, 2002 at 13:00:40:

I need to know what I can read to know what the difference between a condo and a co-op are? Is one better than the other? What would you suggest.

import · September 30, 2002, 8:13pm

Re: co-op vs. condo - Posted by RichV

Posted by RichV on September 30, 2002 at 20:13:48:

I owned a co-op when I lived in NY in 1993. I did a buy out with my ex wife in 96.

Ever since then I never got into co-ops again. You’re a shareholder in a corperation. Its not like holding a deed.

I have owned several condos here in Florida and have done well.

Try condos …you’ll pay a little more for them but you have more control that a co-op.

For me single family homes are the way to go. But condos run a strong 2nd.

Good luck Frank

Rich

import · September 30, 2002, 7:15pm

Re: co-op vs. condo - Posted by David Krulac

Posted by David Krulac on September 30, 2002 at 19:15:38:

with a condo you have a DEED and you own a piece of that condo including the common areas. If there are 100 units you could own 1% of the common areas in addition to the interior of your specific unit.

with a co-op, which is used a lot in NY, and a few other places but unheard off here in Pa. You own STOCK, not a deed, in a corporation that owns the buildings and the grounds. If it was 100 units you mine have 1% of the stock, so to speak.

with co-ops the board gets to select you as a resident, Richard Nixon and Johnny Carson have been turned down for co-op ownership because the other building occupants didn’t want the noteriety, or publicity.

IMHO a condo is a whole lot easier to deal with, but that’s me.

David Krulac
Central Pennsylvania

import · September 30, 2002, 2:42pm

Re: co-op vs. condo - Posted by Ronald * Starr(in No CA)

Posted by Ronald * Starr(in No CA) on September 30, 2002 at 14:42:06:

Frank--------------

Frank Chin had a post on this topic about six weeks ago on the main news forum of this CREONLINE.COM website. You will find this rather informative, I would think.

Good InvestingRon Starr**