Every so often some incredibly inexpensive properties come open at my condo complex here in CenPho.

See here for three of them. Two are 1br, 1ba and one is a totally renovated 2br, 1.75ba.

The reality of most condos is that you probably won’t be able to get financing for them. However, if you are in the market to pay cash, or can work out a private loan with a family member, the world is your oyster.

The $55,000 property would cost $260 to live in per month in HOA fees (which covers water, exterior maintenance and structural insurance).

Figure you borrowed money at 5% from a family member, and you can get a 2br/1.75ba, 1,100 square foot condo for about $560 per month. The 1br/1ba units would be as low as $343 per month under those conditions.

Oh, and by the way, I think that $55,000 price tag is too high. I would work to lower that.

My condo complex is shady, retro, built like a tank, with a groovy pool and a huge back yard where you can harvest pecans, dates or figs.

I’d really love to see some more owner-occupants here. Investors are great, but I would love to see us preserve the balance between investors and owner-occupants.

So, if you have any questions, please give me a call. I don’t represent these listings, but I can help you grab them before they are gone. 602-456-9388.