MY MOTHER MOVED INTO GRANADA SEVERAL YEARS AGO TO BE NEAR MY AUNT. I CONSTANLY HAVE TO GO TO HER APARTMENT TO FIX SOMETHING THAT THE OWNERS WON'T.

YESTERDAY SHE TOLD THEY WERE GOING TO GO CONDOMINIUM. SHE ASKED ME TO TAKE A LOOK AND SEE IF THEY WERE WORTH BUYING. NO, NO, NO.

I LOOKED AT HER APARTMENT (WHICH ALWAYS SMELLS LIKE URINE FROM MOLD. CAN YOU SAY LAWSUIT') THE FIXTURES, APPLIANCES, TRIM, & FLOORING IS AS BAD AS IT GETS. I NEVER LIKED THIS AREA AS IT IS CLOSE TO KING HIGH SCHOOL, (BAD) IN A VERY BAD PART OF TOWN, NEXT TO RIVER BEND APARTMENTS WHICH IS A SLUM IN ITSELF.

JUST FOR GIGGLES I LOOKED UP ON THE WEB THE PURCHASE PRICE. I ASKED A SERVICE PERSON AT GRANADA HOW MANY APARTMENTS,...112. THE PURCHASE PRICE WAS $7,840,000...THAT'S 70K PER APARTMENT.

THE NEW OWNERS, ACCORDING TO MY MOM, HAVE BEEN PRESSURE WASHING, PAINTING TRIM, AND PLANTING A FEW BUSHES. I WOULD THINK WITH THE MINIMAL IMPROVEMENTS IF THESE NEW OWNERS PUT A FEW THOUSAND IN THE INTERIORS, BOUGHT EVERYONE A SHOTGUN, AND OFFERD 0% FINANCE, THEY MIGHT BE WORTH 80K.

I OWN SEVERAL RENTAL PROPERTIES, AND KNOW THAT THESE OWNERS BOUGHT A GHETTO, LIKE BUYING A CAR WITH A BLOWN ENGINE. THEY THINK THEY ARE GOING TO ARMOR-ALL THE TIRES AND SELL FOR A HUGE PROFIT.

I WALKED AROUND. MY MOM'S UNIT HAS A/C PROBLEMS, MOLD, PLUMBING ISSUES, & STAIRWELLS THAT ARE CRIMINAL. (I KNOW, I SPENT AN HOUR NAILING MY MOM'S BACK TOGETHER) MY FATHER IN LAW GOT TAKEN ON THIS REAL ESTATE BUBBLE, BUYING 6 APARTMENTS TO CONDO CONVERSON, AND HAS HAD 5 OF THEM SITTING EMPTY FOR 6 MONTHS.

DO YOURSELF A FAVOR, BUY A MOBILE HOME, OR A CARDBOARD BOX, BUT NOT A SLUM CONDO AT GRANADA. DON'T BUY ANYTHING FROM PEOPLE WITH DOLLAR SIGNS IN THEIR EYES. LOOK FOR VALUE.OLD RUN-DOWN APARTMENT COMPLEXES ARE NOT A GOOD INVESTMENT. THERE IS A SURPLUS OF THESE CONVERSIONS....FIND ONE THAT HAS VALUE. MY MOM WILL BE MOVING,(WITH MY AUNT TO A NICE SINGLE FAMILY HOME FOR LESS THAN THESE IDIOTS WANT...

User Responses
From: TrueRighOn01	Date: 02/11/2007
i know this complex, your review was so true.

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