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Updated over 11 years ago,

User Stats

106
Posts
17
Votes
Karim Shah
  • Rental Property Investor
  • Southfield, MI
17
Votes |
106
Posts

Buying Distressed Condos to convert into Apartment Buildings?

Karim Shah
  • Rental Property Investor
  • Southfield, MI
Posted

I'm considering this deal of condos in this very distressed building. By buying the condos I will have a large stake of the building and the other investor owners have said they will sell me their condos, which mean I will have majority control over the property. I few of the other condos are vacant. Handful are owner-occupied, but I think do the distressed nature of the building they plan to leave.

Does anybody know how I can take over the HOA and convert the building back to an apartment building?

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