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Updated 3 days ago, 12/25/2024

Rob U.'s profile image
Rob U.'s profile image
Rob U.
  • Investor
  • from Colorado Springs, CO
  • Member since Jun 29, 2016
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User Stats

12
Posts
7
Votes
Rob U.'s profile image
Rob U.'s profile image
Rob U.
  • Investor
  • from Colorado Springs, CO
  • Member since Jun 29, 2016
Connect
Rob U.
  • Investor
  • Colorado Springs, CO
7
Votes |
12
Posts
Rehabbing & House Flipping

Flipping homes on land leases

Rob U.
  • Investor
  • Colorado Springs, CO
Posted

I'm considering a flip on a land lease. Here's the details. Price 135k, rehab $15k, ARV $190-210k. HOA $700/mo!!! In/out in 2 weeks for rehab.

Obviously the HOA is keeping values in this neighborhood down because an owner would have a mortgage plus another $715/mo for the HOA, which only covers use to a community center but nothing else.

Besides holding costs, is there anything else I should be concerned with for a flip on a land lease? 

Colorado Springs, Colorado
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