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Saturday's column, "What you should know about condominium investments"
January 29, 2009 - Gary Tasman
I tackled this topic a few years ago when the "average Joe" was purchasing condominiums and houses then flipping them for a profit. The market was skyrocketing back then, but as I have said many times before, markets cycle, it's the nature of what they do. And, at every point in a market there are opportunities to buy and there are opportunities to sell...it's a matter of being in the right place at the right time.
I have been putting excerpts from my column into the blog the last few weeks to see if I can generate additional readers to the Saturday column. I appreciate every reader who follows the column and I appreciate all the many comments I receive regarding the column too.
Please feel free to respond to me at my email or even here on the blog, that is what it is for. Now for the opening paragraph of Saturday's column:
"In a hot market where property values are appreciating, it makes sense to be the first buyer on the block. In fact, many speculators in the last few years were signing up to buy condominiums at preconstruction prices, solely for the purpose of flipping the unit -- or even the contract - in order to profit.
But did you ever wonder what happens if the owners of a commercial or residential condominium sign a contract and close, but then the developer files for bankruptcy or the other owners default? It's a scenerio that today is becoming increasingly common in Southwest Florida."
I cover the topic of "The Association's Role"; having a "Pre-Purchase" Checklist; legal documents; the developer and finally I give advice regarding the other owners. To see the entire column read Saturday's Cape Coral Daily Breeze. Please feel free to email me at email@example.com and thank you, keep on reading.
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