If you have no plan to sell (in the future) or rent the condo…, then you’ll not profit from it, you’ll keep paying HOA, maintenance, etc.. plus, the building itself deteriorate.. condo cost 3-15 million even more… with that you can buy a big lot or a lot in prime location.. better to buy lot… lot will not deteriorate., no maintenance on lots.. you can have your lot rented for farming, parking, commercial establishments, etc… All condos in 50 years or more will eventually be condemned and will be demolished.. which will not happen on lots..
They cannot evict the unit owners. If the unit owners fail to pay the assoc dues and considered as delinquent, they may deny the basic utilities and prohibit the owners from using the shared amenities.
Depends on whats the persons goal and opportunity
If you have no plan to sell (in the future) or rent the condo…, then you’ll not profit from it, you’ll keep paying HOA, maintenance, etc.. plus, the building itself deteriorate.. condo cost 3-15 million even more… with that you can buy a big lot or a lot in prime location..
better to buy lot… lot will not deteriorate., no maintenance on lots.. you can have your lot rented for farming, parking, commercial establishments, etc…
All condos in 50 years or more will eventually be condemned and will be demolished.. which will not happen on lots..
His video is 1 sided and not complete heheeheh
Thank you for this Edric. I was wondering, what will happen if a person stops paying HOA/Association Dues. Can they evict you out of your property?
They cannot evict the unit owners. If the unit owners fail to pay the assoc dues and considered as delinquent, they may deny the basic utilities and prohibit the owners from using the shared amenities.
Condo the best investment, hIgh rental income specially in prime location.
You may also want to check out my other video about maximizing your ROI and growing your condo investments: ruclips.net/video/eJz2g0QwIQY/видео.html
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