Investor · Rockledge, FL · Member since 2016 · 3 posts · 0 votes
Attorney/investor looking for townhomes/condos to rehab. Any condition, can clear title. Does anyone know where to find these within above locations? Thanks.
@Jon Irving Welcome to BP. I also like to invest in condos and townhouses, although many investors steer clear to avoid any potential issues with the HOA. I feel if you do your homework and research the association, it's easy to see if there is a risk.
What are you planning to do with them after the rehab. Flip or keep as a rental?
Welcome to BP. Just out of curiosity why are you choosing to focus on condos & townhouses as opposed to single family. We definitely have our fair share of condos here, and I have heard stories of people making large returns on flips. The HOAs do scare me a bit though.
Thanks for your kind welcome messages. I focus on condos & townhouses because as an HOA attorney I am comfortable in that environment... and not averse to clearing title or dealing with some of the restrictions. I am more interested in flipping, since many HOAs limit the number of rentals.
Considering how competitive the market is right now your best bet is to network with wholesalers in the area.
We wholesale occasionally so if you want me to add you to our list just let me know.
An investor friendly Realtor is always a good way to start too. I can recommend a few good ones, starting with @Scott Schuetz, even though I don't know if it will work since you are both in the market for the same types of deals :)
@Jon Irving my focus is mainly beachside. I've helped a couple investors in Melbourne and Viera. The Viera area has a high demand and could be a nice area for you to target. The best deals I've seen are HUD and Homepath but keep your eye on the online auction sites too. The good news for you is you'll have less investor competition than those buying single family homes. Feel free to reach out if I can assist you.
Hello Jon, I have recently purchased 2 condos in the viera area for rentals. I also rent and flip single family homes in the area. I havent seen any condos in the viera area that would make sense for a flip. I am not saying there arent any but i sure havent seen them!