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Updated over 8 years ago,
Property on a golf course with an HOA - do investors care?
I'm looking at a potential wholesale deal and I had my initial conversation with the seller yesterday. She is extremely motivated to sell and wants to be out of the property by end of July at the latest. I haven't seen the house in person yet - my appointment with her is tomorrow - but I don't think it needs a ton of work.
Some details (for those of you familiar with the area):
- Located in Tequesta, FL in Martin County
- Gated community with community pool, tennis courts and clubhouse
- HOA of about ~$200 / month (not sure of any HOA rules for short term or vacation rentals)
- Backs up to a golf course
- Condition is TBD
- ARV is $350k
I have an idea of what I will offer , but my question is - would this be an attractive house for an investor if it backs up to a golf course and has an HOA? There would be instant equity for whoever buys it and I can see this as a great short term / vacation rental for the owner during season (November - May).
I look forward to all input and to hear everyone's thoughts.
Also, if you are located in Palm Beach or Martin county I would love to connect.