All Forum Posts by: Pete Z.

Hi,

I hire a property management company to take care of things.  Unless it is an emergency most things can wait till I get back.  My last two week long vacations had no problems knock on wood. I have had (3) nightmare situations arise in the past though and I very happily will pay a professional  that I feel comfortable with to watch over things so I can not be involved while I am away.  

I am almost there but I have never really made it a goal - Any idea's or pro's and con's to this concept ?

For noise reduction to people under a unit I have been using 32oz felt pad and inexpensive berber. Carpet has lasted on average 6-7 years. (pad lasts longer). Installed it is costing me $12-$14 per yard.  The allure looks great in kitchens and hallway.  Porcelain tile in the bath. This has worked for me. 

Awesome, that sounds similar to what I have done.  I have also been able to add value in some units by having a dining room be used as a bedroom or den.

Thanks. It is good to review the condo docs and financials.  Condo values fluctuate a lot.  I have bought some at good times and some at bad times.  I would rather own a complex with 50 units or more for more control and greater cashflow.  Where I own most of my units I am on the Board and that keeps me on top of things.  

There must be other investors who own a lot of condos and I would like to know their reasoning.

Hi,

Thanks for your reply. Do you own any other properties?

Hi,

Just wondering if there is anyone out there that invests primarily in condominiums as a long term buy and hold strategy.  I currently have 54 and it has worked out fairly well over the past 17 years.  I would like to connect with others who have done a similar strategy.

This is a great question.  I am at about 25% leveraged.  I am pretty cautious though ( and as a result I am not super super rich ).  Leverage is a double edge sword. This is a great question.  I guess it also depends where you are in the business cycle of your area and your age.  Find a successful mentor and get their input  ( I wish I had done this).

Hi,

There is really a lot of brainpower on this site.  Maybe look for a local mentor whom you trust/like and is successful doing what you want to do. Good Luck!