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Updated over 9 years ago,
Can I BUY in a 55+ plus community--not live there?
Hey All,
So I've been on the hunt for my first flip, and ideally I'd like it to be a paint and carpet kind of deal just to get my feet wet. I found an attached villa in a 55+ community that even if I buy it at asking price I could put 10-15 thousand and profit 20-25 comfortably. These homes don't sit on the market long, so I feel confident I could move it pretty quick. I know it's a 55+ community but has anyone under 55 bought in such a community? I'm not LIVING there... so I'm wondering if I can still purchase it. If I can't personally, could my LLC purchase it? I'm sure some will say to partner up with someone who is over 55, but I know partnering is not always the easiest thing to do, and I know some people are dead set against it. Does anyone have any experience with something like this? Thanks!