"farming" a condo complex - Posted by Steve

Posted by TomC (Md) on May 26, 2000 at 11:57:48:


I just realized that I was in the mobile forum, not newsgroup1. My post may not really apply!! Sorry!

(Gotta stop reading all the forums…brain is swimming!)

“farming” a condo complex - Posted by Steve

Posted by Steve on May 26, 2000 at 10:12:40:

I live in the most affluent area of my state(no, I’m not rich yet). Just up the hill is a very nice condo development, well actually, there are quite a few of these on the hill. I’m thinking of doing L/O sandwiches on some and creating and selling owner financed notes on others. It just seems that if you limit the area in which you play, you can be more effective. Any thoughts appreciated. Thanks.


Re: “farming” a condo complex - Posted by TomC (Md)

Posted by TomC (Md) on May 26, 2000 at 11:55:18:

Hi Steve:

I have a couple of rental condos in a really nice complex, and I am looking for more.

My track to inside information was that I joined the board of directors after buying the 1st one via HUD foreclosure.

Seems that very few people want to invest 3 hours a month in the association, so getting on the board was easy.

What’s nice about being on the board is that every month I get a copy of the collections report that shows me which unitowners are behind in their condo fee payments. Those are the ones I have pitched “subject to” solutions to.

No takers yet, but my presentation if getting refined - Bet I get 1 or 2 before the end of the year!