Open House Picks: Six Months Later
Comment: Blah. Open House Picks 10/31/08 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
Comment: Blah.
Open House Picks 10/31/08 [Brownstoner]
Previous Six Months Later Posts [Brownstoner]
Wait, so is the $1.5 million place a whole house or just one condo unit?
Lechecal, wouldn’t that mean you are basically acting as a real estate agent? I guess the developer can’t divide and conquer. This is game theory, real estate version.
mopar loves that dean st place.
loves to rip it I mean
Lechacal,
are there that many huge flr-thru condos around in the slopes now fitting this idea? am thinking you’re looking for at least 1400 sq ft or bigger right?
Hey Mopar, what do you think about the Dean Street house? 😉
good luck with that, leche.
a bit like trying to corner a market.
You’re offering a bulk purchase. The only way it works is if you can effectively capture all interested buyers.
how are you going to do that? camp outside the open houses? what about private showings? place an ad?
The developer only needs 2 sales to break down your efforts.
snark – why do you have to “protect the interests” of rest of owners if someone sells? Why would that harm anyone else? The whole point is to get in at a cheap entry point, but after that, the condo rules should be sufficient, no?
> “Well Snark, either you see it or you don’t.”
Oh, I see it.
I just think it’s going to be trickier than you think.
Yes, you arrange complex financial whozits and whatnots all day long. In this you have a leg up.
But just when you think you have your ducks in a row, minds change, desires change, etc.
But good luck. I hope you make it work.
PS: One of my circle suggested adding one more step.
7. Legally re-incorporate as a co-op so as to protect the interests of the rest of the owners against the first person who decides to sell and leave.
lehacal,
that sounds like a good idea. not only on the price point but you get to live in the units earlier than waiting for ppty to go into foreclosure, buy it at auction (bidding w/o oppty to inspect units), figuring what financing is available,….
just for example sake, what $$$ per sq ft would you deem is a juicy entry pt on your idea?
hey, if you can pull it off, that’s terrific — i don’t mean to suggest it’s impossible. it seems to me, though, that it would require a colossal amount of work to find people who are interested in the same location, price point, style of property, etc., and THEN screen them for trustworthiness, reasonableness, financial security, etc., and THEN negotiate who gets what unit and at what price. if you do it, make sure you get yourself the best apartment in the building for your efforts!