55+ Community Investment?

3 Replies

Hi! I live in So. Cal and am looking at buying a 55+ condo as they are about 50% less than non 55+ communities. The cash flow on the rent seems really good. Has anyone had experience buying this type of property?

The first question I have is how would you list title as at least one of the purchasers must be at least 55 and you don’t look old enough.

I've thought about it as well here in Florida where we have a lot of snowbirds who rent for 4-6 months every year, but you have to watch HOA rules as some don't allow a lease in the first year, if at all and others are restrictive on short-term rentals.

Here in Foster City, CA facing the SF Bay with beach front weather 55+ community. Brand New modern never occupied new high end condos several are on the market 1-2 mo with "zero" offer. A couple listings sellers are planning to lose money asking below paid prices.  If it had no age restriction they would all have multiple offers quickly like any home in the desirable Peninsula at 12-15% over asked price.   

Unless it is in Phoenix, Tampa or alike cities with large eligible retirees HOA forbid children or people under 55 to rent.