half a condo? (long) - Posted by osirus

Posted by osirus on November 17, 1999 at 10:06:56:

This condominium is a duplex. The investor owns half of the duplex. Hope this clarifies things.

half a condo? (long) - Posted by osirus

Posted by osirus on November 16, 1999 at 22:57:29:

An investor took me to see the inside of half condo that his coporation is selling for $20,000 cash or with finacing at 8.5 % with the other financing terms negotionable. The other half the condo is in forclosure. The inside was in near move in condition…new tile, carpet etc. It only needs screens for the windows and a new hot water heater witch was going to be installed anyway. It is located in a decent middle to lower middle class neighborhood. Many of the other condos in this sub divison are rented.

My prelimenary due dilegence puts comps at about $40,000. Assuming that is correct, I would have $20k in equity and flexible exit strategies. I do not desire to be landlord at this time. Thus I would like to flip this deal to another “buy and hold” investor who contacted me via my newspaper ad.

My biggest concerns are the past unpleasant stories I have heard about how difficult it is to sell condos let alone half a condo.

Are my concerns legitimate?

Re: half a condo? (long) - Posted by thom

Posted by thom on November 17, 1999 at 09:16:02:

what is a half condo? is that a half of a duplex? or is that a half share in a condo? sorry.