55+ Condo in West Palm Beach / South Florida

[Martha Blumel]

Hi all!

I received a call from someone who needs to sell a family member's condo. It has gone through probate and they are motivated. My concern is that it's a 55+ which will narrow the buying pool.  Not sure there is much ability to wholesale, but I could be wrong. I'm also considering a fix and flip myself, but I have to run the numbers this evening. It looks like they sell $45-$55k at most.  This one is in good shape and from what she told me will need minimal work. I still have to confirm though.

• With the snowbirds leaving and the market ever changing, what is your feelings on this type of deal?

• What is local investors' interest in flipping condos? (trying to gauge interest)

• What ROI/profit would you need from a condo?

• Is there anything in particular that I should be aware of about probate?

• Anything else?

Thanks for any feedback you can give me!

Martha