Apartment Conversion To Condos - Thoughts
All,
I am brainstorming & need some good advice/opinions. I have an offer to purchase a quad in Buffalo. All are 3 bedrooms in good shape w/separate mechanicals. Anyone have any thoughts on converting these apartments to condos or maybe a co-op. I have no idea where to begin.
Thanks in advance!
Eric
Where in Buffalo is the property located? There is limited demand for condos in this area, so be careful. It completely depends on the location.
Thanks for the replies. I have pulled the plug on this deal. My broker/PM advised me against the condo idea. Apartment rents would be a lot cheaper than the condo payments.
Eric