Posted by Ronald * Starr(in No CA) on September 12, 2003 at 10:38:35:
There are two critical steps. Take them in the order you choose.
- Check the market for condominiums. Prices, speed of selling. Amenities that lookers want. What they want to avoid. Not all apartment complexes make successful condiminium conversions. In many locations the apartments that were not converted to condominiums a long time ago are not going to be attractive to condominium buyers. That is why they were not converted a long time ago.
2–Talk to the local government organization about their requirements and rules. That is probably a city planning department.
Meanwhile, you might try to find some educational materials on the topic. There were not too many written, as I recall. But what there were were mainly in the 1980s, I believe. There is a book on investing in individual conominium units by a Seattle investor which might help you understand better what the buyers and renters want and what makes a project work better.
Good Investing******Ron Starr******************