In this video, real‑estate investor Joe Homs explains why flipping condominiums can be a profitable entry point for both new and seasoned investors. He outlines three main advantages: (1) exterior upkeep is handled by the homeowners association (HOA), eliminating the need to manage painting, roofing, landscaping, or driveway repairs; (2) interior rehab costs are typically lower because the flipper only needs to address interior finishes such as painting, flooring, shower reglazing, and cabinet updates; and (3) purchase prices for condos are often lower than comparable single‑family homes. Homs also clarifies the distinction between condos and townhouses—condos have units above or below, while townhouses do not—and explains HOA restrictions on flooring (hardwood or tile is prohibited in units with neighbors below to prevent noise). He advises investors to do thorough homework, understand the pros and cons, and develop a solid game plan before proceeding, offering further help via additional videos or direct contact.
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In today's video, we're talking how to flip condos for profit. Coming up next. If you're brand new to flipping, you might want to start with a condo. Let's talk about a few reasons why you should. Welcome back. I'm Joe Homs. I've flipped hundreds of homes in Southern California. I made this channel to help the new and experienced investor. Make sure that you subscribe, like, and share this with your friends. Let's talk about 3 So there's a couple of reasons condos are good for flipping. Number one, you really don't have to take care of anything on the outside. That belongs to the homeowners association out there. So the painting, the roof, the roadway, any type of landscaping is all taken care of by the HOA. Yes, you have to pay HOA, but as a flipper, it's really easy to flip a condo because you don't have to worry about any of that stuff on the outside. That's your friend. And this is a big one. Rehab costs tend to be lower because you don't have to take care of stuff on the outside. I mean, really, we just did a walkthrough on this place and again, painting, flooring, reglaze the shower upstairs, paint the cabinets in here, put some new pulls. This is not a big heavy-duty dollar flip that we're talking about. If this was a single-family residence, we'd have to worry about painting the outside, The outside. Doing the landscaping, worrying about the roof and anything else that, you know, a single-family home would cost you money on. Number 3, the prices tend to be lower. We just did a walk. Because again, you are buying a condominium. In this condo, there could be somebody below you. There are units where they're over the garages. The definition of a condo versus a townhouse, if there's somebody living below you, it's a condo, living below you or above you. And if there's nobody below you or above you, then it's considered a townhouse. This may possibly fit. I don't know what's below us. It could be the garages below us, but I'd have to walk around and check. But if there's another unit below us, then this is considered a townhouse. Which brings up another point. Okay, we have carpeting up here. In a condo, you're not allowed to put flooring, wood flooring or tile flooring. The reason is, as you're walking on here, it makes noise. So if there's somebody below you, the HOA will not let you put hardwood flooring in something like this. Now, if it's just you above or below, like this area is obviously above your unit, so you can put any type of flooring you want up there. But I'd have to check to see what's going on downstairs here. So if you're in the business of flipping houses, don't discount flipping condos just because it's outside the norm of what you hear most real estate investors do. If you understand the pros and cons, do your homework, and have a solid game plan, you can make a lot of money. If you need help picking out your next flip, click on this video right here. If you have any other questions, feel free to reach out to me anytime. I'm always here to help. Discount flipping. Flipping noise. So if there's HOA will not let you. Of what you hear most is obviously above. If you understand the pros and cons, do any type of flooring you want. Do your homework.
