Can you wholesale individual apartments?

[Chad Bernstein]

Hey Guys,

I was wondering if someone could help me out with this. I live in Queens Ny, I am starting out in wholesaling. I see a lot of apartments for sale inside buildings, I was under the impression that people owned the apartment buildings. Apartments that people own out right or with built up equity can you wholesale these properties? Do you need permission from the owner of the entire building? Queens has a very dense population and there are a lot of people that own apartments for around $100,000, where as the house prices are closer to half a million and way over.

[Buddy LaRue]

@ There's often some confusion between a cooperative apartment building and condos, and people will often say they own their apartment when they live in a cooperative apartment building (also known as a co-op).

A condo is when you own the interior airspace of a unit. The HOA owns the building. The owner of the unit gets a deed to the unit and typically owns an undivided interest in the HOA.

A co-op is when the "owners of the units" purchase STOCK and those stocks allow them to "own" their unit.

I've seen people wholesale condos before, but am not sure if a person could wholesale in a co-op. I'm not a lawyer and can't give legal advise, but I would think it could still be done. Just know what you're buying before you get in too deep.