Client is considering selling her condo in Santa Monica

[Jesse Ruiz]

I do aquarium maintenance, and one of my clients is thinking about selling her condo because the HOA fees are over $4k. Her mortgage is a little over $3100. The ocean view is beautiful. If she were to agree to seller-finance, would STR be an option? I know Santa Monica and LA overall has guidelines on STR's. I was also thinking of wholesaling it. I'm open to all opinions.

[Jon Martin]

Whether or not a unit is seller financed is irrelevant in regards to STR regulations. STR regs are set by the county and/or city first and foremost and apply to all properties within that jurisdiction. HOAs can also restrict them at any time with no recourse for the property owner beyond joining the HOA themselves and attempting to change the rules.

Are you saying that the HOA is $4K monthly or annually? A $3100/month mortgage in Santa Monica with an ocean view sounds like if you mean annually but if you mean monthly, no thanks.