Careful with that one -- if it's a true co-op like they do them in Chicago, you don't actually own them, and the monthly "association" type fee might be ridiculous. I think in that building, your monthly co-op fee will be $1100 because the building probably has an underlying mortgage to pay off.
I know it's near impossible to do in NYC (of course) and LA, but there are a ton of urban areas where I've helped friends track down ridiculous deals.
If you're serious, get with a local major bank and get on their foreclosure announcement list for when they liquidate off-market foreclosures.
I don't know DC that well, but from my friends who live out there, ownership is impossible due to the massive amount of lobbyist-type incomes that destroy one's ability to own outside of a hot area. In Chicago proper, there are 12 neighborhoods that are "upper blighted" where I'm finding deals that are just incredible. Developer walk-away buildings and such.
I know it's near impossible to do in NYC (of course) and LA, but there are a ton of urban areas where I've helped friends track down ridiculous deals.
If you're serious, get with a local major bank and get on their foreclosure announcement list for when they liquidate off-market foreclosures.
I don't know DC that well, but from my friends who live out there, ownership is impossible due to the massive amount of lobbyist-type incomes that destroy one's ability to own outside of a hot area. In Chicago proper, there are 12 neighborhoods that are "upper blighted" where I'm finding deals that are just incredible. Developer walk-away buildings and such.