Quote:
Originally Posted by GH85Carrera
It would be nice to see the financial reports of the current ownership and see where their excessive debt is coming from. If it was a profitable venue, they likely would not be trying to dump it.
Does the current neighborhood association have the cash on hand and resources (workers) to maintain the property and manage the rentals? It will require more work for someone. If that is a paid position, it is likely a financial disaster in waiting. If you can find the volunteers to inspect the building, and the association has the money to fix all issues and get it ready for rentals, how much rental income will it need to make a modest profit?
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I agree. If they are short of money why would they unload profitable property.
Who knows.