Too many investors in a condo complex?

Question

Looking at purchasing a condo and all the numbers make sense about 270$/Month cash flow but the lender doesn’t like the idea of Too many investors own units in the complex so they want 25% down? Thoughts on this?

I have read some things to Stay clear of complexes with too many investors ?

Nathan Gesner · Answer

25% is pretty common. There's a reason banks don't like to loan on condos with a large percentage of investment units.

Bobby Paquette · Answer

@Mike McCarthy waiting on them for their documents! Thanks!

Mike McCarthy · Answer

@Robert Paquette 25% down for an investment property is pretty common.

As for condos, definitely review the HOA rules and try to figure out how the HOA is doing financially. They can be a mess.