All Forum Posts by: Ramsey Doumani
Ramsey Doumani has started 3 posts and replied 7 times.
Post: Screening a condo for the first time
- Posts 7
- Votes 1
After doing my radon inspection, the levels were extremely high. My radon levels for first floor condo in Fort Myers were 14. I do not know if I have to move forward with the unit. The unit checks all the boxes, including a good price, except very high amount of Radon. I still am waiting for the seller to do another radon inspection and then we can compare results. However, do you know if the HOA would be flexible creating a mitigation system for the radon? Is high level of Radon is considered a red flag when buying a real estate property?( difficulty reselling the unit, and it has a small percentage risk on your health)
I would like to know if the value of the condo will decrease overtime and your thoughts about the situation. I was thinking about using the radon as another point for negotiation.
I would appreciate your opinion on the subject.
Post: Screening a condo for the first time
- Posts 7
- Votes 1
After doing my radon inspection, the levels were extremely high. My radon levels for first floor condo in Fort Myers were 14. I do not know if I have to move forward with the unit. The unit checks all the boxes, including a good price, except very high amount of Radon. I still am waiting for the seller to do another radon inspection and then we can compare results. However, do you know if the HOA would be flexible creating a mitigation system for the radon? Is high level of Radon is considered a red flag when buying a real estate property?( difficulty reselling the unit, and it has a small percentage risk on your health)
I would like to know if the value of the condo will decrease overtime and your thoughts about the situation. I was thinking about using the radon as another point for negotiation.
I would appreciate your opinion on the subject.
Post: Screening a condo for the first time
- Posts 7
- Votes 1
Quote from @Susan Humphrey:
Hello Ramsey, There ae a few things to consider with condos especially in a flood zone. First floor condos will be at the highest risk of flooding. If the property is not in a flood zone, or you arent concerned about the risk fo flooding, it really is a personal preference. If you want to avoid stairs than 1st floor makes sense. If you dont mind stairs that opens up more opportunities. Hope that helps!
Post: 3 leases with 30 days minimum condo, Is it a good fit?
- Posts 7
- Votes 1
is it a good option to buy a condo with 3 leases/ 30 days minimum for investment. planning to rent it out for snowbirds or lease rooms for travel nurses in season. Also, I am not sure if an extension of a lease is considered a new lease or not. For instance if I have a travel nurse who extended the contract and extended the stay is it the same lease? . If no, is there a way to go around it . During the off season, I will try to rent it out from June to November for travel nurses ( summer and fall). I am only looking for medium term rentals. 3 months at a time. I am not finding a condo that is not in a flood zone in fort myers and has no restriction for rentals. Any suggestions about rental investement areas/condos would be much appreciated . Thank you!
Post: Screening a condo for the first time
- Posts 7
- Votes 1
Hello everyone, what should I look for When I inspect/ tour a condo for the first time? ( Regarding interior, and not HOA, management, location)
Anyone has experience renting for snowbirds? I was told that a ground-floor condo are better than a second floor condo ( If there's no elevator and Stairs are present). Do Snowbirds usually like ground floors since They might have restriction climbing stairs. Any thoughts or experience about this fact?
Post: Investing in a condo vs townhouse as a traveler
- Posts 7
- Votes 1
@Jason Wray,@Stetson Miller. I appreciate your help. Both of you provided important information.
It's true @Jason Wray that Florida is always a hotspot. And yes hurricanes are not that common but I should be prepared
@Stetson Miller good point about finding a good HOA. That would be the key element + no rental restrictions
Post: Investing in a condo vs townhouse as a traveler
- Posts 7
- Votes 1
Hello Everyone! I am a traveler therapist. I live and work 3 months in Florida fort Myers/Bonita spring area and travel for work 9 months out of state. I am looking forward to buy my first condo or a town house in fort Myers/ Bonita spring area and would like to rent it out when I am not in the states. I would like some honest opinions/ experiences from everyone about my crazy plan!
1) I am wondering if it's doable to manage a condo/town house with tenants when I am out of state seasonal 9 months per year. I have good friends and a handy man that I can rely in Fort Myers/Bonita spring area when I am away and I will be able to rent out the entire unit seasonal for snowbirds. However, I don't know from a practical point of view if it's doable
2) Condo vs townhouse vs cashflow: I noticed condos and townhouses are way cheaper in fort myers FL ( however risk of hurricanes) and maybe more opportunity for cash flow. Bonita spring way more expensive but less chance of hurricanes( from the last 30 years ) and less opportunity to cashflow. Anyone can give me their experience in renting out condos/townhouse in Fort myers vs Bonita spring in FL and what they would do if they were in my position?