Syndication - Own Your Own to HOA conversion

[Nick Hedberg]

I just got into contract on a OYO (Own Your Own) 'condo' in LA which is a fixer. Since it's OYO financing is very limited and all the units in this complex are well below market compared to normal condos where you can get traditional financing. I'm acting as an agent so I don't need financing

Does anyone have experience with OYO? More specifically converting an entire complex from OYO to a traditional HOA. I think there is potential for a group of investors to purchase a number of condos in a complex, rehab and then convince the condo owners to convert from OYO to a traditional HOA. Just the conversion is worth a considerably lift in value.