All Forum Posts by: Martha Blumel

Thanks everyone for your feedback. The Condo is in Lakeside Village in Palm Springs. After speaking with her further I am not sure there is going to be enough spread with the past due HOA fees. She has an agreement with the HOA to not foreclose, but they are going to want to be caught up on the sale of the unit. I have been talking with her daily, but she is up north on a family emergency.

The comps seem to be around $50k. Although there is one pending for $78,900 only after 18 DOM. The bathrooms and tile throughout have all been updated, except the kitchen puzzles me (see the attached pic).  This pending listing is in an all ages building, so it obviously will go faster. I should be able to get in to see the condo I am working on in the next few days and I still need to talk to the HOA to find out their restrictions.

Thanks again for the feedback.

Brian, would you mind telling me more about any experience you've had with JVs with sellers. I am interested in seeing if this is an option that may work on a property I am currently looking at. Thanks!

@Justin Jocewicz @Mitchell Jaworski @Wayne Brooks

Have any of you ever wholesaled a 55+ condo or just flipped or held?

Thanks @Mitchell Jaworski and @Wayne Brooks! 

I am happy to see some positive feedback concerning 55+.

May I ask a favor and get you to check out this post I made earlier today about a 55+ condo and give me some feedback. I have never dealt with condos and so I'd love your feedback. Thanks @Justin Jocewicz for already responding!  I appreciate everyone's input!  See everyone Saturday.

https://www.biggerpockets.com/forums/311/topics/296001-55-condo-in-west-palm-beach-south-florida?page=1#p1921901

Thanks for your input @Justin Jocewicz! Legalise... that's pretty funny!

Hi @Tashana Baker. Welcome! What areas in PB County are you interested in investing in? Price range etc.? Are you looking for SFR, Condos, Multifamily?

Hi all!

I received a call from someone who needs to sell a family member's condo. It has gone through probate and they are motivated. My concern is that it's a 55+ which will narrow the buying pool.  Not sure there is much ability to wholesale, but I could be wrong. I'm also considering a fix and flip myself, but I have to run the numbers this evening. It looks like they sell $45-$55k at most.  This one is in good shape and from what she told me will need minimal work. I still have to confirm though.

• With the snowbirds leaving and the market ever changing, what is your feelings on this type of deal?

• What is local investors' interest in flipping condos? (trying to gauge interest)

• What ROI/profit would you need from a condo?

• Is there anything in particular that I should be aware of about probate?

• Anything else?

Thanks for any feedback you can give me!

Martha

Thanks for the invite Jon. We will definitely plan on making it this month. That weekend is open. 

Welcome Arnoldo!