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?
Yes.
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.
you should know what type of coop it is before even applying. but yeah investor friendly coops are pretty few and far between
You'll have to find a different way to lose your money.
Indeed. Alan knows ALL the ways ...
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.