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Updated about 7 years ago on . Most recent reply

Steve Sun's profile image
Steve Sun's profile image
Steve Sun
  • Investor
  • from New Hope, Pennsylvania
  • Member since Sep 5, 2014
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Steve Sun's profile image
Steve Sun's profile image
Steve Sun
  • Investor
  • from New Hope, Pennsylvania
  • Member since Sep 5, 2014
Connect
Steve Sun
  • Investor
  • New Hope, PA
0
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3
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New Jersey Real Estate Q&A Discussion Forum

8 units HOA convert to one multifamily property?

Steve Sun
  • Investor
  • New Hope, PA
Posted

Hello all,

I am currently owning 7 out of 8 units in a small condo association. Each unit pays 200 for HOA fee.

Does it make sense if I acquire the last unit I havent own and convert all units to a single multifamily property? The reason for me is that I can increase cap rate by not paying HOA fee every month(7 units x 200)..Any pros and cons?

please advise

thank yoou

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