GREAT INVESTMENT OPPORTUNITY: 55+ Condo for Fix -N- Flip

Description

Property Features:
Condo
55+ Community
2 Bedrooms and 2 Bathrooms
Living area: 1,148 SF
Year built: 1987
AC is 2 years old
Exterior was painted 2 years ago
1 car garage + extra parking on the driveway

Community:
HOA is $1,706.76 Quarterly ($568 a month)
HOA covers: Internet, Phone, Cable, Building insurance, Lawn maintenance, Trash, Water and Sewer.
Fees: Application is $100 (per adult), Administrative fee of $75 and Renters have 2 fees: $200 and $500 security deposit
HOA requires a 20% deposit (even for cash deals)
Application process takes 30 days for approval
Rental restrictions: “Minimum of four (4) months, and no more than twelve (12) months in one (1) calendar years. Once per year only after twenty-four (24) months of ownership.
Community restrictions: At least 1 person has to be 55+ (No-one under 18 is allowed to reside)
Credit score must be at least 650

Comps:
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8946 Windtreesteet ST (Renovated) SOLD FOR $425,000 in 0 days
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8201 Springtree Rd (Renovated) SOLD FOR $440,000 in 10 days
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