Buy & Hold "Or" Condo Convert?
If you were to buy an apartment building, would you do it to buy and hold? Or would you only try to find properties that you could convert to condos?
My situation is that I own one small 1960's building. It's not really the ideal property to do a condo conversion on, although it could be done. However, I'm in the process of buying a much larger property which would be excellent for doing a condo conversion.
The simple math would tell just about anyone into realestate that doing condo conversions would be the fastest way to leverage your money. I've never done a condo conversion before, so I'm just debating if I should try it or not. It sounds like it offers the biggest ROI in the shortest time frame, and if you were to continue to reinvest the profits over and over again into more and more and larger and larger condo conversions that you could do extremely well as opposed to just holding. Your thoughts on the subject?