What is the profit margin on a condo conversion. I’m wondering how much leeway condo converters have to lower prices. I understand that each development is different. However, in general, if units don’t sell, the converters/builders have to lower prices in order to service their loans. We may come to a point where there’s a cascading downward effect if units don’t sell.
SD Realtor, thanks for your advice. I think that your cashflow analysis example is the best way to approach things right now.
I like the UTC area because it’s centrally a located area. Many don’t like it there because it’s full of transcient students who don’t really take care of their homes. Many of the rentals are trashed by students moving in and out.
Does anyone have suggestions on where to look for a 1-bedroom condo in a descent neighborhood?
Eventually, for my retirement, I want to get a 1-bedroom condo downtown (when prices are low) then rent out my 4 bedroom house in the suburb. Now that I’m older, I hate sprawl and the drive that goes with it.
