Flipper/Rehabber · West Palm Beach, FL · Member since 2020 · 6 posts · 1 vote
I'm interested in buying, fixing and flipping my first property. Does anyone on this forum have experience flipping in deed restricted communities {age restricted 55 & older}. The properties appear to be relatively inexpensive and since the said units are condos, one would assume the renovation would be limited to walls in only.
One of my many concerns is specific to ownership, HOA, holding cost and other miscellaneous cost which would impact the project profitability.
Any feedback on personal preference between the two neighborhoods is greatly appreciated.
I'm interested in buying, fixing and flipping my first property. Does anyone on this forum have experience flipping in deed restricted communities {age restricted 55 & older}. The properties appear to be relatively inexpensive and since the said units are condos, one would assume the renovation would be limited to walls in only.
One of my many concerns is specific to ownership, HOA, holding cost and other miscellaneous cost which would impact the project profitability.
Any feedback on personal preference between the two neighborhoods is greatly appreciated.
You need to make sure to review covenants, restrictions, fees and working hours etc. Other than that it's like anything else. It's all abut inventory, demand and the price you pay.
@Greg Dickerson I plan to have the repair work completed during"Normal business hours". Primarily between 9:30am and 3:30pm. Do you think this time construct is feasible?
With respect to the covidence, conditions & restrictions, what landmines may surface during the flip? I understand the {potential} repercussions to the long term owner(s) if rules exist that impact the owner's lifestyle.
I really appreciate your time, effort and valuable input.