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Originally Posted by OrdoSeclorum
Wait. How can you invest in new construction in Lakeview? How could that be profitable since no one can live there due to the cost/benefits? You've ranted on here more times than I can count that the taxes are too high for it to be viable.
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The building in question has had long term tenants (all have been there 7-10 years) and the building has a ton of deferred maintenance that will require the units to be vacated for an extended period of time. We also got quite the deal on the building when we purchased. However, to answer your question, there will certainly be considerable upfront costs, but long term would be quite the opportunity, regardless of rental or condo.