All Forum Posts by: Paul Munley

I'll have to look up that information for those laws here in AZ.

And ok thank you that's a very helpful tip. It seems like in order to become successful in this business you need to be friendly and network with others. I will deff remember this for the future if I end up buying a condo! 

@Account Closed

@Chris Seveney Ya that is true. I guess it just depends on if these monthly fees would cost more/less then a property management company on a residential home. Now do tenants in a home ever offer to do or do their own exterior maintenance on their property? 

Ok that makes sense. Thank you very much for the information! @Chris Seveney It seems like investing in condos could be a good way to go if you don't have a lot of money starting off because they are cheaper (considering enough due diligence is done). It also seems that a lot of these associations take care of the exterior maintenance which makes things easier. 

The banks won't usually lend if this information from the associations are sub par right? And once it's under an agreement can you still back out at anytime?

@Chris Seveney

So it's just a matter of taking the time to make sure everything is in line at that you get to know everything that you need to before purchasing, which should be the same with any purchase of property.

And just to clarify you mean reserves as in the amount they have for repairs in case something was to happen like the roofing needing a change? And by minutes you mean the amount of time the condo association meets to have meetings? @Account Closed

Are these associations open to giving out all of this information? I mean I guess if they weren't open to doing so then you just wouldn't purchase the condo, but are they usually open about that information? 

@Chris Seveney

@Russell Brazil Were there any precautions that you had to take when planning to buy these condos? For example, were there any specific questions you had when talking to the condo associations to reduce your chances of these issues occurring. 

Is there anyone specifically who can say they own multiple condos and are successful in this? It seems that their is a lot of red tape involving the condo associations that can cause issues in cash flow. I'm just curious if their is anyone that is completely successful in this strategy to see if it's feasible. 

Thank you!

Are their any real estate investors in the Phoenix area willing to hire someone to help them out with any extra work that they need done? I'm willing to do work any task for free or cheap as long as I get an exchange of valuable learning experiences in the real estate market. 

Thank you!