Hello again,
I`m looking at this condo, the price is very good all things considered. But upon examining the condo docs and financial reports. This 71-unit condo only has about 100k in reserve. And have been losing 20k/year since it`s condo conversion in 2007 (before that it was a rental apartment).
The condo docs says it`ll be able to make up for the deficit in 2020. Everything else looks okay, no immediate repairs are needed. the condo is built in 1980.
Any input is appreciated!
I`m looking at this condo, the price is very good all things considered. But upon examining the condo docs and financial reports. This 71-unit condo only has about 100k in reserve. And have been losing 20k/year since it`s condo conversion in 2007 (before that it was a rental apartment).
The condo docs says it`ll be able to make up for the deficit in 2020. Everything else looks okay, no immediate repairs are needed. the condo is built in 1980.
Any input is appreciated!