In the commercial and residential real estate investment market condo conversions have become a controversial topic. Many experts say there are still profits to be made with condo conversions, while others assert that condo conversions are high risk and potentially lead to big losses.
Many condo conversion projects have reverted back to apartments due to slow sales. Condo conversions can be built with more affordable prices in mind if the property is chosen correctly and the plan is designed with working class buyers in mind.
Condo conversions can create affordable housing available to working class families, especially in areas where single family home prices are too high for middle class residents. Investors interested in selling condos to the working and middle class have a great chance of being successful if they buy the right property, in the right location, where affordable housing is a necessity.Tips for Condo Conversion Success
Don't invest in a property you plan to use as a condo conversion without following these tips:When marketing a condo conversion property think carefully about your niche markets.Think Outside the Box with Condo Conversion: Commercial Investment Options
A condo conversion investment can be more profitable if residential space is sold on upper stories while first floor property is sold as retail or office space. If you think creatively about your condo conversion investment you will discover all the possibilities.Condo Conversions - How to Succeed in a Changing Real Estate Market
;Becoming a member of a condo association can include many benefits. These are usually what makes buying a condo so attractive. Maintenance services are another huge benefit to being a part of a condo association.
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