Posted by GL(ON) on February 13, 2002 at 16:04:09:
I know of one investor who prefers condo townhouses to any other type of investment. He has bought hundreds of them.
Reason, they rent for practically the same as a house but sell for 25% less.
Watch out for the condo fees though. Check out the management before you buy.
Deals Involving Townhomes? - Posted by DavePA
Posted by DavePA on February 13, 2002 at 15:54:58:
Has anyone had any luck or have done any deals with townhomes? I have a guy who called and said he wants to sell his townhome for the mortgage bal. Mortgage bal. is 85K. His payments are $825/mo. incl. T&I I looked into some comps on the same street and found: 9/01 sold 100K 11/01 sold 107K I am sure I could get 100K straight sale. Or, if I L/O to a buyer for 106-110K. All payments are current, and no repairs needed. He is sick of waiting for the people renting now to purchase the townhome from him. I guess if I would go through with the sale I would get rid of the tenants, and bring in a new buyer. Any suggestions or comments welcomed? Thx, dave