Help! Buying Non-Warrantable Condo

[Mike L.]

Hi! I am buying a non warrantable condo in TX. This will be a rental property. The complex is non warrantable because more than 50% of the complex is investor owned. Would love to connect with someone. 

[Jay Hurst]

Quote from @Mike L.:

Hi! I am buying a non warrantable condo in TX. This will be a rental property. The complex is non warrantable because more than 50% of the complex is investor owned. Would love to connect with someone. 

 Make sure investor concentration is the ONLY reason the project is non-warrantable.  Often, but not always, in non condo markets like Texas these heavily investor owned projects have other issues as well. They look great on paper becaue they are often very cheap, but sometimes things are cheap for a reason. Also, if most lenders will not lend on a property that is often a sign it is not worth buying either.