Reply to What is a piggyback duplex?

Forum Index » Real Estate

Reply to "What is a piggyback duplex?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]You would only own unit #1. Basically its a stacked townhouse with 2 units, usually 2 floors up and 2 floors down but sometimes different configurations.[/quote]

Not in this case. Read the listing 'condo built w/ exacting detail w/ LL rental unit - could generate $1,500/month.' It says the unit owner would ALSO own the basement rental. At $1,195,000 it looks like a good deal. [/quote]

But if you look at the HOA, it's $200-something per month per unit. So if you're buying the whole building, why would you pay an HOA for two units that occupy the whole building?[/quote]

PP here - that I agree with. It's a PITA to buy 'condos' in those townhouses broken up into 1-4 units because of this...among other reasons. Why would I pay $200-$400/mo in HOA fees for what is effectively a house? But if you own both of these units maybe you could just think of it as 'HSA' for your house repairs when needed.

[/quote]

If I own the whole house, aren't I, the owner, in charge of the condo association? And I set the fees, if any. I'm not sure how it works, but if I'm not interested in having the whole property split as a condo, can't I operate it in the way I choose, and do away with the condo association (me?)?[/quote]

That's an interesting question. The (two) properties have already been deeded and licensed as separate units. So could you re-zone them as one entity I don't know? For insurance purposes you'll have to keep the HOAs at least for the bare minimum costs because that's where your taxes and insurance are automatically deducted from.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics