Fresno condo real estate investing
Recently I worked with a local real estate investing couple who was interested in purchasing a Fresno condo and adding it to their portfolio of Fresno rental properties.
It was a pleasure working with this husband and wife because they knew exactly what they wanted and what it meant to buy into a condo complex.
Not everyone has their real estate experience and that’s ok too.
CONDOMINIUM DEFINED
A condominium owner legally owns a single unit in a multi-unit building or complex.
In addition to owning that single unit, the owner also has a share and a right to use common property inside and outside the building (e.g. swimming pool, club house, gym, etc.).
For the right to use the shared amenities, the owner will usually be responsible for sharing the costs as well. The costs associated with keeping the common areas up and in good working order are shared and paid through monthly or quarterly Home Ownership Association (H.O.A.) fees.
H.O.A. fees can and will vary from complex to complex depending on expenses.
If you would like to discuss adding a condo to your real estate portfolio, Joseph Hollak can be reached at (559) 399-0004.
One Comment
Ask these seven questions before buying your Fresno condo | Joseph Hollak / 05 Jun 2010 / 12:54 PM