By keeping one, you’re keeping the lower tax base.
Just curious, how are condos a litigation target?
Because HOAs would rather hire an attorney than a plumber. There are attorneys and experts that target HOAs during the ten year lability period to go after the developers insurance .
In addition members are suing and being sued by the HOAs all the time.
A multi family apartment building does have these issues even though they are built generally to a lower standard of quality than condos.
Might be a good idea to build 200 condos, rent them for 10 years, then sell off as condos. This way you avoid the lawsuits, also get appreciation.
This happened in SF in 2010 when condo developers were forced to rent due to lack of buyers. Interestingly I don’t see those condos selling at the strong market. Maybe they will sell if Prop 10 passes
Always a good idea to build multi family with a condo map. But 10-20 years later the city might not let you convert.
Why not build as 200 separate condos but hold all 200 titles under the same developer’s name? Since these 200 units are already separate condos, you can sell any day you like.
I’m thinking to buy a 4plex, converter to condos,
but keep as rentals. Whenever rent control is coming, I can immediately sell as 4 condos.
Ok . I will build it. Will you loan me the money?
You still need to get a loan for multi family. If you sell a multi family to me, I can still sue you, just like the HOA