Condo's and the land under them?

[Taylor West]

To start from the beginning, I am a veteran, and spoke to another veteran about buying a condo (this had nothing to do with REI). He stated that if I was to buy a condo with the VA loan to make sure I was ALSO buying the land under the condo. WHAT?!?!  Is that not included?

Is this something that will be an issue if I was to wholesale, flip, etc. when doing REI. I do not intend to use my VA loan, but looking for further understanding and advice in regards to REI and condos. Thanks in advance.

[Rob Beland]

When you buy a condo you are buying into the condo association that owns the land. You will receive a deed for your unit only. The deed for the land is separate and is held by the association. Condos can be flipped and wholesaled.