All Forum Posts by: Mark L Watts

Hi Aaron;

No, that's not a possibility. The building allows renters and most of the owners's do rent. That can never happen. 

Hi Helen:

The insurance for hurricane's, etc... for wind, hail, water and fire is included in the condo fee. The only other insurance the owner is responsible for is liability for renters. It's a $1,000 per year and I have that included in my pro-forma. Thanks! 

I have an opportunity to purchase a package of 8 bay front condo units with Gulf views and gulf access on the Alabama Gulf Coast. Off the market situation [not listed on MLS]. 3BR/3BA, average 1,800 sq. ft. Great location and amenities. Very unique, well known property with very good reputation. List price is $75K - $100K per unit under what same type units are currently selling for. Exit strategy is based on a 3-5 year plan. I have all the pro-forma info along with current rental income totals, expenses, cap rates, etc... Very good opportunity. Conservative approach with excellent upside.