Investor · Clearwater, FL · Member since 2015 · 26 posts · 5 votes
I have been researching and running numbers on SFH in the Clearwater St pete area. I have noticed that the home values in the areas I am looking to invest (depending on school ratings) in are still in the 150 ranges.
However...
i have come across some significantly low condos. Has anyone have experience rehabbing condos in the clearwater area? The price range brings a lower risk and may be a good starting point in a first rehab. If so, pros? cons?
Rental Property Investor · Plant City, FL · Member since 2015 · 1k+ posts · 379 votes
10y
@Mark Higgins I don't like condos. I don't trust the association not to raise fees, to spend my money responsibly from the fees, to have property insurance, etc. I've heard of people doing well with condos, they just aren't for me. Sorry I couldn't be of more help.
Real Estate Agent · Tampa, FL · Member since 2015 · 129 posts · 44 votes
10y
Hi Jason,
Condos are tricky animals. The financial health of the association and their ability to hit you with fee increases and special assessments are mostly out of your control. If you invest, do as much due diligence on the association as you can. Go over their financials and ALL of their covenants, rules and regs, etc.
Investor · Clearwater, FL · Member since 2015 · 26 posts · 5 votes
10y
I can see how fees can effect the long term Financials for a buy and hold. Are you talking about purchase fees from an association? I am looking to do a rehab with a 10 week I'm frame. Does none know anyone in the clearwater st pete area that has experience in this field of rehabbing?