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Distressed HDFC as an investment?

Started by nychickinny
over 11 years ago
Posts: 0
Member since: May 2014
Discussion about
This probably sounds crazy - I recently came across a unit in a financially distressed HDFC that owes half a million in property taxes and water bills. They seem to have been behind bills for nearly a decade. Probably just a step or two away from being foreclosed by the city. What if I come in and buy the unit now, sit on it, wait until it gets rehab and either stay or resell? Maintenance is extremely extremely extremely low.
Response by miker430
about 11 years ago
Posts: 51
Member since: Nov 2012

You have to meet the income restrictions and you are only allowed to buy an HDFC apartment as a primary residence. It is good you are not qualified because its a terrible idea.

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