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Old 02-20-2019, 01:09 PM
 
Location: Dallas, TX and Las Vegas, NV
5,502 posts, read 4,191,924 times
Reputation: 11182

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I looked up the property records for the complex. Units were sold to individual owners in 2001. So they were built as condos.

BTW, make sure FHA loans can be used for the purchase of a condo there. FHA only funds condos where 70% or fewer of the condos are rented out. So even if you don’t use FHA, its a great test to see if most of the residents are owners.

In addition, see if your HOA rules have limits on length of leases for those who do rent out their units. That way if someone uses their unit for Airbnb you can report it and have it stopped.
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Old 02-20-2019, 01:13 PM
 
Location: Dallas, TX and Las Vegas, NV
5,502 posts, read 4,191,924 times
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Get a top floor unit!
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Old 02-20-2019, 01:26 PM
 
67 posts, read 18,039 times
Reputation: 29
Quote:
Originally Posted by WorldKlas View Post
I looked up the property records for the complex. Units were sold to individual owners in 2001. So they were built as condos.

BTW, make sure FHA loans can be used for the purchase of a condo there. FHA only funds condos where 70% or fewer of the condos are rented out. So even if you don’t use FHA, its a great test to see if most of the residents are owners.

In addition, see if your HOA rules have limits on length of leases for those who do rent out their units. That way if someone uses their unit for Airbnb you can report it and have it stopped.
Thank you so much for the valuable info. What is Airbnb ?
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Old 02-20-2019, 02:23 PM
 
Location: Dallas, TX and Las Vegas, NV
5,502 posts, read 4,191,924 times
Reputation: 11182
Quote:
Originally Posted by Whiskey-Pete View Post
Thank you so much for the valuable info. What is Airbnb ?
Airbnb and a few other companies provide alternate housing in direct competition to hotels. People join Airbnb if they have a house or apartment fully furnished and rent it out for 1 day up to several months. Problem is, people often rent out an Airbnb in order to have a place to hold a party. And, in Las Vegas, people rent them for a place to smoke marijuana. Just not fun for residents who live there. Its become a big problem in almost every city.

I own some rental properties. In a condo in Dallas, there’s a unit that was an Airbnb, but our HOA rules require any leased units to have leases for a minimum of 12 months — so we were able to get that shut down immediately. In a single family house I own in the Dallas burbs w/o an HOA, there’s an Airbnb house on our block that constantly has parties going on and the street is filled with cars from people parking to go to the parties.

https://www.airbnb.com/s/1050-East-C...%5D=%2Ffor_you
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Old 02-20-2019, 04:04 PM
 
709 posts, read 258,236 times
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I wouldn't "purchase" a condo that is stick-built. All stick-built multi-level structures have noise issues that are going to be compounded when there are 12 or more families living in the building. In my experience, stick-built condos aren't built any better than similar cheap apartments. Concrete gardens or high rises are a different story.

As disrespectful as people are in this town, you're pretty much guaranteed to have some scumbag in your building that can't keep the noise to themselves. I would keep that in mind when considering the construction style of the building.
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Old 02-20-2019, 04:14 PM
 
11,839 posts, read 4,451,982 times
Reputation: 5197
Quote:
Originally Posted by equid0x View Post
I wouldn't "purchase" a condo that is stick-built. All stick-built multi-level structures have noise issues that are going to be compounded when there are 12 or more families living in the building. In my experience, stick-built condos aren't built any better than similar cheap apartments. Concrete gardens or high rises are a different story.

As disrespectful as people are in this town, you're pretty much guaranteed to have some scumbag in your building that can't keep the noise to themselves. I would keep that in mind when considering the construction style of the building.
Not actually true. Many of the smaller purpose built condos do a pretty good job of insulating the walls between units. Helps. The systems also tend to be better isolated than in a converted apartment.

I always advise against a conversion unless it is not to be owner occupied.
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Old 02-20-2019, 06:16 PM
 
67 posts, read 18,039 times
Reputation: 29
Quote:
Originally Posted by WorldKlas View Post
Airbnb and a few other companies provide alternate housing in direct competition to hotels. People join Airbnb if they have a house or apartment fully furnished and rent it out for 1 day up to several months. Problem is, people often rent out an Airbnb in order to have a place to hold a party. And, in Las Vegas, people rent them for a place to smoke marijuana. Just not fun for residents who live there. Its become a big problem in almost every city.

I own some rental properties. In a condo in Dallas, there’s a unit that was an Airbnb, but our HOA rules require any leased units to have leases for a minimum of 12 months — so we were able to get that shut down immediately. In a single family house I own in the Dallas burbs w/o an HOA, there’s an Airbnb house on our block that constantly has parties going on and the street is filled with cars from people parking to go to the parties.

https://www.airbnb.com/s/1050-East-C...%5D=%2Ffor_you
wow I was not aware of that. Sounds like a nightmare.
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Old 02-20-2019, 06:17 PM
 
67 posts, read 18,039 times
Reputation: 29
Quote:
Originally Posted by equid0x View Post
I wouldn't "purchase" a condo that is stick-built. All stick-built multi-level structures have noise issues that are going to be compounded when there are 12 or more families living in the building. In my experience, stick-built condos aren't built any better than similar cheap apartments. Concrete gardens or high rises are a different story.

As disrespectful as people are in this town, you're pretty much guaranteed to have some scumbag in your building that can't keep the noise to themselves. I would keep that in mind when considering the construction style of the building.

How can you tell if it's stick or mortar?
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Old 02-20-2019, 06:25 PM
 
2,331 posts, read 3,907,727 times
Reputation: 1260
Quote:
Originally Posted by equid0x View Post
I wouldn't "purchase" a condo that is stick-built. All stick-built multi-level structures have noise issues that are going to be compounded when there are 12 or more families living in the building. In my experience, stick-built condos aren't built any better than similar cheap apartments. Concrete gardens or high rises are a different story.

As disrespectful as people are in this town, you're pretty much guaranteed to have some scumbag in your building that can't keep the noise to themselves. I would keep that in mind when considering the construction style of the building.

I am living in a regular constructed condo built in 1991. Two common walls sharing between two units. Not a issue with unit noise at all.
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Old 02-20-2019, 07:29 PM
 
11,839 posts, read 4,451,982 times
Reputation: 5197
Quote:
Originally Posted by Whiskey-Pete View Post
wow I was not aware of that. Sounds like a nightmare.
With some rare exceptions it is not a problem in Las Vegas which is fiercely hostile to the concept. First off our steel mill is the strip and we do not need neighborhood homes used to compete with it. Secondly we are a big attraction so partying at an AirBnB can be a significant and nasty neighborhood problem.

So the concept is banned except in the City of LV where it is tightly limited and requires special permitting.

So don't sweat it...pretty much a large home problem anyway. AirBnB does not make out well on 500SF studios.
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