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12 December 2018 | 6 replies
I have couple of duplexes near the Village Condominiums rented to section 8 tenants making over 1% rent.
27 August 2017 | 4 replies
I am a landlord of a condominium unit in Washington State, and the CC&Rs say, "Landlord is responsible for tenant damage to common areas and to limited common areas".
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25 September 2017 | 8 replies
We have different contracts promulgated by the real estate commission depending on the property type. 1-4 family residential, condominium, and commercial.
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8 January 2018 | 0 replies
If approved by the Assembly Housing Committee on January 11th, local governments will have the power to control rents at the time of vacancy.In other words, so-called “vacancy de-control” will be eliminated by AB 1506 leaving owners with no rights to reset rental rates to market when a unit becomes vacant.Further, if AB 1506 is approved, local governments could impose rent control on new construction, single family homes and condominiums.
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20 September 2017 | 2 replies
Hi People,For my first deal I'm looking at the following, please let me know your thoughts:NJ Condominium in C+ neighborhood about 30 minutes from me, I plan to self manage.1 Bedroom 779 sq ft.Built 1960Good condition, move in ready.Purchase Price $80,000Taxes: almost $2,800 (Annual, $233 monthly) HOA/Maintenance: just under $375 (Monthly) trying to be conservativeInsurance: $50 (Monthly)Total monthly cost:Mortgage (4.5%, 30 yr fixed, hold for 20 years) $324Vacancy (5%) $67Tax $233Insurance $50HOA $375Maintenance (1,000/12) $83Other (200/12) 16.67Total $1,150Rental Income: $1,350Cash Flow $200IRR 19.97% per yearProfit when sold $173,828Cash on Cash Return 914%Cap Rate 1.93%Looks pretty good.
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23 September 2017 | 7 replies
If the HOA/Condo doesn't add any value, you should consider terminating the condominium.
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25 September 2017 | 2 replies
Your building should have condominium declaration documentation.
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29 September 2017 | 0 replies
I am evaluating a deal to build condominiums in Colorado.
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31 March 2017 | 3 replies
I suspect my neighbor pays the vacation agency.When I closed on the condominium almost six years ago I asked if there was a COA.
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1 April 2017 | 5 replies
I would like to change the title on one my properties (condominium) to my relative.