All Forum Posts by: Arthur Voskanyan

There is Residential properties under 5 units and anything over 5, is commerical, it’s a great resource for comparisons and looking if you are interested in investing in commercials

Can someone explain exactly how rent-to-own work? Is there a notorized promissory note? Does the seller/owner set up the documents through a lawyer and is it like seller financing but first one must rent for a certain amount of time? I assume the owner sets up the rate, payment agreement for the buyer? What happens if a buyer stops paying after a certain amount of time and defaults? I mean is the only trust between buyer and seller to release the property is a written paper document? The seller can anytime rip the paper up and say there was never a deal, and claim it wall all just rent, then the buyer making payments will be screwed?

Having trouble understanding Apartment buildings vs condos? First question, if I own a commercial apartment building of 10units or so, who pays HOA dues? The Tenant or me as the building owner. In a condo, it is the owner obviously. My question is; is I own an apartment building of 10units, am I paying HOA for each unit? If HOA is $300/mo, I pay $3,000 monthly? But also, if I am the building owner, don’t I set the HOA amount in the first place? Doesn’t it depend how many amenities I have and such? Also, do apartment building even have HOA dues? Condominiums do, but apartment buildings? Now if the tenant pays for the HOA and there is a vacant unit that I own, is the HOA now my expense, since the unit is vacant? Probably basic knowledge questions, but need clarifications. Thanks everyone for any expertise and knowledge. Arthur Voskanyan

I need some clarification on purchasing a residential apartment building (10units+), or a condo complex? Does the market offer commercial complex condos of like 10units, to where you have full control of the units? That way you can control rent, seller finance each unit. Also, both apartment buildings and Condo complexes have HOA dues, but as the owner, I know I pay HOA dues in an apartment building or the tenants pay? Also, if I own the apartment building am i paying HOA for each of my 10units I own?

So do commerical condo building exist for sale? If I wanted to buy 10units of condos, or I can only buy apartment building just for rental income? 

joshua,

So am I paying the HOA for apartment building as the owner? Or do they tenants pay for the HOA? If it's a condo complex, obviously I as the owner pay for it. But for apartments?

@Jon, I don’t see how whether it is a apartment building or a condo complex? One doesn’t allow seller financing units? What’s the difference? They are both buikdings, condo complex, or apartment building?

If you wanted a commercial property, a residential building apartment complex of 10+units, what are some things to consider? How is the lending process? Does it work the same as for residential homes? In terms of conventional loan options, and is it easy to get a loan for like a $2Million property with 20%DP? Also, what are some other expenses that an owner is responsible for? What type of insurances is a must? As the complex owner are you allowed to set your own rent and even seller finance each unit? Can you set up your own HOA amounts for residents? Can you add amenities like; Large complex pool installation? Do you need permits to remodel the complex? Also, in terms of cash flow, profit making, would it be worth buying such a commercial investment? Rather than having 10 individual residential units all around in different places? Wouldn’t it be way more profitable to own a complex? Assuming it’s a class B or A area, with high occupancy rates, good neighborhood, location, and past record of solid income stability? Thank you in advance for all responses! Arthur Voskanyan

Do prepayment penalties exist for commercial properties? Is it a common addition to the loan?

If you wanted a commercial property, a residential building apartment complex of 10+units, what are some things to consider? How is the lending process? Does it work the same as for residential homes? In terms of conventional loan options, and is it easy to get a loan for like a $2Million property with 20%DP? Also, what are some other expenses that an owner is responsible for? What type of insurances is a must? As the complex owner are you allowed to set your own rent and even seller finance each unit? Can you set up your own HOA amounts for residents? Can you add amenities like; Large complex pool installation? Do you need permits to remodel the complex? Also, in terms of cash flow, profit making, would it be worth buying such a commercial investment? Rather than having 10 individual residential units all around in different places? Wouldn’t it be way more profitable to own a complex? Assuming it’s a class B or A area, with high occupancy rates, good neighborhood, location, and past record of solid income stability? Thank you in advance for all responses! Arthur Voskanyan