20 unit apartment for sale

[Eugene Reamico]

A 20 unit apartment is listed for sale as part of a apartment complex. Anyone had any experience or thoughts about this? Any pros and cons?

[Spencer Gray]

Are they condos? People do it, but you'll have HOA fees, and possible lack of control of the building if you are a minority member of the HOA. We're actually in the middle of a condo de-conversion in Indy where we bought the majority of units, bought the remaining owners out, dissolved the HOA, and now operate the building as a regular apartment building.

I personally wouldn't do it if you can't control the entire asset, but people do buy condos as rentals all the time.