Condo Conversion - Posted by Big Dave

import · September 23, 2003, 8:45am

Posted by Dennise Kouri on November 10, 2003 at 13:25:12:

I’m interested in condo-conversion in southern california. Where do I find the law? Is it state or city? Also, is there somewhere I can do some research to find the ins and outs of doing the conversions? Thank You Dennise

import · September 23, 2003, 8:45am

Posted by Big Dave on September 23, 2003 at 08:45:15:

Hi…I am looking for general information of what to look for and how to, etc… in a condo conversion. The contemplated property is a 12 unit apartment building with parking below. The plan is to convert the units to condos within a 12 to 18 month timeframe and then sell them, moving into other properties via 1031. Before we consult with an attorney (and pay big $$$$$$$$$$)…I wanted to see if there is general info online.

Thanks!

import · September 29, 2003, 2:12am

Re: Condo Conversion - Posted by Seung Lee

Posted by Seung Lee on September 29, 2003 at 02:12:32:

Where the property is located matters greatly. But speaking of San Diego, CA, 12-18 months sounds about right and you CAN do a 1031 if you can manage to time the sale. Each unit sold has its own time clock so if you can sell them together closely enough, you can put the money into one upleg. Hope that helps and you can read more info at www.denovoventures.com It’s my info site about condo-conversions.

import · September 23, 2003, 11:12am

Re: Condo Conversion - Posted by ray@lcorn

Posted by ray@lcorn on September 23, 2003 at 11:12:35:

Dave,

Eric is right. Jim Rayner posted an excellent brief on the subject a few years ago under the thread found at http://www.creonline.com/commercial-real-estate/wwwboard5/messages/1435.html
The thread includes a bibliography of publications on the topic.

I would also reiterate Eric’s suggection about searching the archives. There have been a number of discussions on the topic over the years.

ray

import · September 23, 2003, 10:29am

Re: Condo Conversion - Posted by Eric C

Posted by Eric C on September 23, 2003 at 10:29:34:

Hi -

Here, the guy with all the answers about condos is Jim Rayner.

The subject of condo conversion comes up frequently and if you do a search of the archives on the subject, you will be surprised at what you find.

Good luck,

Eric C

import · October 1, 2003, 6:56pm

Re: Condo Conversion - Posted by ray@lcorn

Posted by ray@lcorn on October 01, 2003 at 18:56:37:

Seung Lee,

Thank you for visiting our forum. Your website is quite informative and well done. It looks as though you have found an excellent market niche, and marshalled the resources to capitalize on it. Condo conversion is a frequent topic here, and your expertise is both welcome and appreciated.

Best of luck, and I hope you will check in with us often.

ray alcorn (host)

import · October 1, 2003, 7:13pm

Re: Condo Conversion - Posted by Seung Lee

Posted by Seung Lee on October 01, 2003 at 19:13:59:

Although I focus on condo-conversions exclusively in Southern California, I have some good connections with large condo-converters who do it nationwide. Specifics differ but the basics are the same. If you’re interested, I’d be happy to host a small portion of the discussion site or maybe post an article on your website. It would definitely send traffic to my site and hopefully I can answer questions about condo-conversions and put it on your site. Let me know.