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5 Red Flags to Look for When Buying a Condo for Investment in CA

Just as with every other piece of real estate that you are investing in, you should consider location and all of the different aspects of due diligence. Condos are a great way to diversify the types of rentals in your portfolio. However, condominiums come with their own unique set of problems that owners can encounter if they don’t do their homework before buying.

Read on as we explore five red flags to look for when buying a condo for investment in CA.

Parking

When you visit the property, take note of the general appearance and the parking lot’s condition. Are signs easily seen and landscaping well groomed? You’re not just buying an individual unit. The accommodations for your enjoyment and comfort should begin the moment you step out of your car, just as they should for any guests you would like to invite, so your search for problems needs to begin with the availability of guest parking when you arrive. 

Sound

You don’t want your future tenants complaining about the noise. So pay attention when you are walking through the condo during the showing; when adequately insulated, you shouldn’t be able to hear the sounds of those living on the other side of walls, floors, or ceilings. Check the thickness of doors and walls, and visit during weekends or diner time, so that you get a realistic sense of the noise levels when more residents are at home. The noise level should be minimal; otherwise, you have spotted a major red flag when buying a condo for investment in CA.

HOA Financials

You should ask to see the HOA financials because this is an easy way to spot one of the red flags to look for when buying a condo for investment in CA. For example, when several residents withhold payment, this may indicate a protest over residents’ problems with the condominium through non-payment. In addition, this lack of funds may create more issues, as the board may have inadequate funds to take proper care of the building.

Association Fee

High association fees that don’t correlate to the amenities offered are another red flag to look for when buying a condo for investment in CA. There shouldn’t be any problem in providing you with documents stating the annual dues you will owe, which you will need if you are financing the purchase. 

Maintainance and History

investors must review the code compliance history for the building and how the board adheres to routine maintenance and responsiveness when repairs are required carefully. Any deferred regular maintenance can become more costly as time passes. Unseen, minor problems turn into damage and can grow into significant catastrophes. If a history of code violations exists or the board isn’t taking great care of maintaining the structure, these are serious red flags to look for when buying a condo for investment in CA.

If you are looking for a condo as an investment, the pros at H&M Realty Group can help spot all the red flags when buying a condo for investment in CA. The full-service team at H&M Realty Group is ready to help you build your investment portfolio today, from locating properties to closing, fixing, flipping, and even property maintenance. We know about available properties with our vast network of connections, so you don’t miss out on great deals. So let the professional investors at H&M Realty Group work with you to help you find the right condo, and don’t forget to ask about our current inventory of the best condos available in CA. Why not find out how we can work together to help you. Contact H&M Realty Group today at 949-625-4533.

Joe

Broker/Realtor/Investor/Mentor (41 years experience) Specialties: Buyer's Agent, Listing Agent, Foreclosure, Short-Sale, Property Management, Landlord I'm a Full Time Real Estate Professional, house flipper and mentor to many of my clients. I am here to help you get top dollar for your home or get you the best price for a home that you are going to live in. I have over 40 years of real estate experience for you to draw on and actively list and sell over 20 homes a year. I have sold over 600+ homes in the last ten years alone. I am a very skillful negotiator and will work diligently to help you realize the best possible price when buying or selling your home. With my Exclusive Home Acquisition & Sales System, I can find the Right Home for You! I have access to homes no other Realtor will show you. I can show you how to save an average of $10,000.00 on the purchase price. We will find a home that fits your needs, in a neighborhood that suits your style. If you are selling your home then I can bring all the professionals to you. I always include professional photos in ALL my listings. I have contractors standing by to assist with those upgrades if needed. I can also quickly get you ALL CASH offers for your home if you desire. My marketing surpasses all other agents. It begins with extensive internet advertising to hundreds of websites throughout the world. I do direct mail marketing for you home and also knock on doors in your neighborhood when I am holding an open house. I hold you home open to expose it to as many buyers as possible. My Exclusive program is designed to sell your home for Top Dollar in Any market. I am an experienced flipper here in Orange County and therefore can offer you my over 40 years of real estate experience. The information is available to you at no charge! If you like what you see, please call me and setup Your Free Consultation.

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