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Updated almost 10 years ago on . Most recent reply

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Carolina E.
  • Investor
  • NW Indiana
197
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833
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Getting around HOA allowing only owner occupancy

Carolina E.
  • Investor
  • NW Indiana
Posted

Hello BP. I was looking at some pre- foreclosures and found a condo that I know only allows owner occupancy. I was wondering, out of curiosity, if one could do a subject to (assuming the numbers work) and do a rent-to-own on something like this. Has anyone dealt with a situation like this and has the HOA had an issue with it? Or is there another way of doing a deal like this?

Most Popular Reply

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Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
5,080
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Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
ModeratorReplied

@Carolina E.

 - Investors make it work but not buying condos with rental restrictions.  It isn't worth getting stuck with a property you can't sell and cant rent.  Though IMO I would never buy any condo ever

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