I am presently looking at purchasing condo for son to live in while attending LSU. I did not realize how complicated it is to finance these condo deals. Putting 20% down,800 credit score, perfect credit, running into restrictions such as # units being rented, ownership restrictions, and 10%maintenance reserve requirements. Every time I turn around there is an obstacle to overcome. All of these restrictions' are in purchaser best interest.
The thing that concerns me with all of these regulations would limit # purchasers down the road?
Please share your thoughts in dealing with some of these issues.
Thanks
KJ

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Posted by TunaTigers

Nola

Member since Dec 2007

5352 posts

Posted on 5/10/15 at 8:43 am to TigerKJ

My parents did this for me and my sister. It was on the market for about a week before it was bought. Parents came out ahead.

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Posted by saderade

America's City

Member since Jul 2005

25735 posts

Posted on 5/10/15 at 8:58 am to TunaTigers

My parents are trying to sell their condo right now near LSU. My sister and I both lived there followed by my cousin. I didn't think it was that complicated.

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Posted by AbsolutTiger

New Orleans

Member since Sep 2006

4796 posts

Posted on 5/10/15 at 10:25 am to TigerKJ

If there seem to be a lot of problems with the information coming out of the HOA, you may want to look at something else. That said, buying a home is a pain in the arse in general, there's always a new piece of info they want

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Posted by mmonro3

New Orleans

Member since Apr 2013

3921 posts

Posted on 5/10/15 at 10:44 am to TigerKJ

I recommend Brooke Hollow