Interesting article considering many towns people think and ask about condos going into some of the downtown areas in need of redevelopment. However as this article states, one of the challenges with a new condo project is funding since most lenders will not allow the developer to move forward until they have 50% sold and deposits in hand. Thus, to get an area up and running where there is need for new or additional populations, rentals are a quick way to get filled up and then down the road convert to condos if needed. What are your thoughts?
http://www.globest.com/news/12_1071/miami/multifamily/Is-Multifamily-a-Better-Bet-Than-Condos-356362-1.html?ET=globest:e45946:809650a:&st=email&s=&cmp=gst:Multifamily_20150324:editorial
