7 Red Flags When Buying a Condo

Описание: Red flags when buying a condo can include a wide range of scenarios, like high staff turnovers or lack of basic building upkeep. They may seem like simple fixes but these, and many other red flags, can ultimately hurt your bottom line.

Even though condos are the preferred home type in New York City, they only make up about 30% of the total homes for purchase. This is even more reason to pay close attention to the operations when investing in one of the most expensive cities in the world.

But before you start your journey to find your dream home, download my free “House Hunting Checklist,” https://undividedre.com/checklist. It’s a quick and simple way to pinpoint your ideal home and keeps everything handy in one spot so you can stay focused on the prize.

Tags: #RedFlags #condoboard #mortgage #NewYork #nyc #NewYorkCity #nycliving #cityliving #nycagent #condo #townhouse #apartment #condominium #luxuryliving #realestateagent #nycrealestate

This video is for entertainment purposes only. Always consult a licensed professional before engaging in any transactions.

Chapters
00:24 Review the condo's board minutes
01:28 Check for assessments
02:01 Check frequency of increases in common charges
02:38 Look at the building's cash reserves
03:00 Check for any special elections
03:19 Check the rate of staff turnover
03:35 Walk through the common areas
03:51 Pay attention to water Leaks
04:17 Find out what percentage are rental units
04:49 Research the building's management company

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Meet Micky, a top New York City real estate agent on a relentless journey to educate and advise buyers and sellers on how to turn their dreams into an NYC address. He leads team Undivided on a mission to curate the most coveted luxury condominiums and co-ops, eco-friendly buildings, and modern homes in Manhattan and Brooklyn.

With his expert knowledge of the city and its negotiating nuances, and also as a real estate investor himself, Mukul “Micky” Lalchandani is incessantly focused on how to maximize the investment potential of each opportunity at hand, to maximize value for himself and his clients.

He invites you to join him on this journey to simplify the complexities of buying and selling real estate in New York City. What are the questions you need answered? Let him know below!