Completely remodeled riverfront condo for $10,500.
Forgot to add a zero???:shock:
These buildings sit right across from the space center. These are apartments that were converted to condos at the end of the boom. Talk about bad timing.
Is this for real Greg?
Yes I just found another in the same building for $9,900.
We are going to go look at them tomorrow. My girlfriend lived in one of those units in 2000 while waiting for her house to be built. She spent $6000 for rent during that year.
Hell with the first time home buyers credit it is almost like getting it for free.
Shingle-Asphalt, Fixer Upper
Sometimes a picture (s) doesn’t tell the whole story.
When the price is tooo low, there is usually a good reason…
Let us know how it looks, that’s crazy, even for 500 square feet.
If it sounds to good to be true, it usually isn’t .
I emailed the agent and one Jeff Hagen from ERA just text messaged me back. It is not a joke.
Better check on how much dues are!
Greg, let me know what they are like, I need a place to stay for bike week. Seriously!
That is going to make or break it.
The building is in a great location. The units were just renovated within the last two years. Not really sure why they have fixer upper on the listing.
Monthly dues will not tell the story.
Look into things like reserves, assessments, occupancy rate and the condition of the stucco cladding, hvac and roofing.
When you buy a multi-family unit you are essentially going into business with the other owners. Very scary idea in my opinion unless you are looking at high dollar property where you can buy better neighbors.
I’ve seen a lot of these in the Orlando area. One realtor just told me her office had a listing for a 1500 sq ft condo in the Disney area for $18K.
Check what Bruce recommends (big ticket items) and look at the minutes of the HOA meetings to see other things are being discussed.
Nothing typically prevents a huge assessment when they need it except not enough owners to pay it.
I am looking at the same thing at Ole MIss in Oxford, MS
We are likely to make offers on two units next week.