Shelby McKean
Thoughts on Turnkeys?
14 October 2024 | 31 replies
Don’t forget to get title insurance to, and get the owner’s paperwork showing that all contractors, subcontractors, and materialmen have been paid.As for short term rental of a condo you buy, most condominium associations don’t allow that, and for good reason.
Timothy Hicks
Land Acquisition and Entitlements Financing Equity Partner
13 October 2024 | 9 replies
The average price per land for urban infill going 6-12 stories high on a higher density product is about 5 million an acre up to about 25 million an acre. downtown market premiums I've seen at the highest are 1200 a sq ft. in columbus you can get land about 1.5 million per acre downtown at best price, sells for about 600 a sq ft max, very little competition compared to miami. tampa I didn't really look at too much because miami has 22 zip codes that you can build at least 6 or 8 stories on and just a much better landscape than other markets. tampa is a little bit bigger than columbus but in my opinion more of a suburban market. miami is landlocked and very limited so everything is in redevelopment. both are amazing opportunities but the barrier to entry is much higher in Miami with the smallest plots of land infill going for at least 1.5 million I would say in areas like Wynwood Norte, Wynwood, etc. we looked all over but prefer east of 95 due to the condominium opportunities. multifamily is very strong in both markets but the condo premiums make it almost silly not to do one from the start and the use of deposits versus a single asset lease up and disposition is a longer sales cycle than the condo buildings being sold out prior to completion.
Julio Gonzalez
Cost Segregation on Condo
6 October 2024 | 0 replies
The condominium is 2 stories and 6,540 square feet with 8 units and was constructed in 1965.
Don Konipol
The 10 Dumbest Comments Said to me by Real Estate Professionals
4 October 2024 | 1 reply
A condominium isn’t real estate8.
Marcus Welson
Capital Gains and Basis on Interest Acquired Over Time through Surviviorship
5 October 2024 | 2 replies
.• A condominium was purchased by Person A on 11/1986 for a property value of $52,700.• On 11/2015, the condo real property was quit claim deeded by Person A to Person B as a joint tenant with rights of survivorship and Person C as a joint tenant with rights of survivorship.
Seth Botner
Deed Restrictiom - No landlord & tenant relationship
1 October 2024 | 1 reply
For example, if a state enacts a law that prohibits individuals from having boats on their property, the state would then enforce that restriction.If the restrictive covenant governs an entire condominium building or a subdivision, they are enforceable by one or all of the property owners in that community.
William Strom
Are Condominiums a good investment
26 September 2024 | 7 replies
Are condos a good investment? I’m looking at getting one for a long term rental.
Jeremy Schappert
Do new construction homes or older/existing homes appreciate more?
26 September 2024 | 9 replies
Do fee simple homes tend to appreciate at a faster or slower rate than condominiums?
Sharon Tzib
Houston Housing Stats August, 2024
13 September 2024 | 1 reply
pid=2114Houston Real Estate Highlights in August, 2024:• Single-family home sales declined 8.3 percent year-over-year• Days on Market (DOM) for single-family homes went from 43 to 47 days• Total property sales were down 11.2 percent with 8,730 units sold• Total dollar volume declined 8.8 percent to $3.5 billion• The single-family median price was down 0.3 percent to $336,940• The single-family average price rose 0.9 percent to $421,912• Single-family home months of inventory registered a 4.5-months supply, up from 3.2 months last August• Townhome/condominium sales continued to decline, falling 16.7 percent, with the median price statistically flat at $226,000 and the average price declined 1.2 percent to $258,952.
Joe Morello
Issues facing Condo Associations in Florida - What to Know
11 September 2024 | 2 replies
Florida condominium associations are currently navigating significant challenges due to recent legislative changes and rising insurance costs.