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Updated about 6 years ago,
55+ years old Community
There are 2 apartments available at a 55+ community. The prices are awesome (rents almost 2% of the property value). The only issue is that these communities do not want any investors. Because of that, there is a regulation that claims “minimum of 3 years after purchasing to be able to rent out the property “. That’s why prices are that good. Obviously, nobody would want to wait 3 years to start seeing some cashflow. My question is: what would you do? I’m waiting to hear if they can make an exception (hopefully). Thanks!