Buy a condo in Tally

[BraveSeminole10]

We're thinking about buying a condo and renting it out to students for a few years and then making it our crash pad for football games. Any experiences or stories the LR would like to share?
Posted from Rivals Mobile

 

[dmm5157]

Had a couple of buddies do that a while back. Splitting the condo ended up being tricky, but they used it for tailgating season. Will have to ask them what they did with it, as the one that lived in Tallahassee and was supposed to do the maintenance no longer lives here (almost all live in Miami).

 

[mercernole]

There are some decent prices right now, but you want to be careful about the association rules and current funding. There are quite a few vacant units in most of the buildings and if the building is made up of non-paying units then assessments could be a problem. Also make sure you fully understand the rules related to renters and leases.

It's not a bad idea, just make sure to cover all bases. Get a good real estate attorney to review the condo docs before buying don't just rely on the real estate agent or the seller's statements, and make sure you have all amendments to the association documents.

Posted from Rivals Mobile