I have found a building that I would like to purchase and rehab into condo's. My question is once I sell the condos don't the buyers own them? Where is my cash flow after they are all sold?
That's quite an ambitious project. Condo conversions were all the rage out here (NJ) about a decade ago.
For cash flow, you can hold mortgages.
You can annoint yourself King of the Condo Association and pay yourself a silly salary. You can install a MAC machine and/or other vending machines in the common area. You can put up a cell tower on the roof and rent it out to Verizon.
Sorry. Just looking out the window at our first snowstorm of the season thinking I should be playing golf somewhere warm.
associate fees are where you make your cash flow. For the more part, condo conversions are usually for profit apon selling them. Coin laundry is also a good source for money.
[addsig]
That's quite an ambitious project. Condo conversions were all the rage out here (NJ) about a decade ago.
For cash flow, you can hold mortgages.
You can annoint yourself King of the Condo Association and pay yourself a silly salary. You can install a MAC machine and/or other vending machines in the common area. You can put up a cell tower on the roof and rent it out to Verizon.
Sorry. Just looking out the window at our first snowstorm of the season thinking I should be playing golf somewhere warm.
Make money buying building for a buck and sell it for 2 bucks. You will have some expenses but should make a dime or two profit .
Good LUCK and HAPPY HOLIDAYS
Hope this helps some
Ted Jr
associate fees are where you make your cash flow. For the more part, condo conversions are usually for profit apon selling them. Coin laundry is also a good source for money.
[addsig]
HOA fees are where you make your money?