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Co-op Boards

Started by Equity8
almost 15 years ago
Posts: 5
Member since: Jan 2011
Discussion about
Do most coop boards turn down Investment Purchase Applications?
Response by NYCMatt
almost 15 years ago
Posts: 7523
Member since: May 2009

Yes.

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Response by kylewest
almost 15 years ago
Posts: 4455
Member since: Aug 2007

Yuppers. Virtually all. Not having investors is part of what makes a co-op a co-op. They are almost entirely for people who intend to make the unit their primary residence.

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Response by marco_m
almost 15 years ago
Posts: 2481
Member since: Dec 2008

you should know what type of coop it is before even applying. but yeah investor friendly coops are pretty few and far between

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Response by alanhart
almost 15 years ago
Posts: 12397
Member since: Feb 2007

You'll have to find a different way to lose your money.

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Response by NYCMatt
almost 15 years ago
Posts: 7523
Member since: May 2009

Indeed. Alan knows ALL the ways ...

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Response by bramstar
almost 15 years ago
Posts: 1909
Member since: May 2008

There's really no point in purchasing in a co-op for investment purposes anyway (unless you are able to purchase a sponsor unit with sponsor rights that would allow you to rent out the unit without having to go through the board). Buying a co-op resale means you'd be bound by the co-op's sublease regulations which are generally very stringent.

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