Anyone live in a Co-op?

[Asharus]

There's a co-op advertised here at work, and I was just wondering how it works. Here's a snippet:

large (800 sq ft)1 BR Forest Green lower level unit with 20x15 LR, 15x14 BR, 11x9 Dining Area. Heat, water & taxes included in $650/mo maintenance (75% deductible). Pool, clubhouse, pets allowed. $99,000.

Basically, I need to purchase it at 99k, and pay $650 a month for maintenance? What does the 75% deductible mean?

 

[gistech1978]

im not a chicken
i dont live in a coop.

 

[Jzero]

I live in a coop. It's like 12x25 shoebox. Only thing missing is chicken wire.

 

[xboxist]

Buckethead did. Ask him.

 

[axelfox]

xxxschools

Really?

 

[Mill]

Like with Debo?

 

[TitanDiddly]

You mean co-op?

 

[notfred]

If I was putting $100k into something already, I'd just go all out and get the $250k home loan and buy myself a house.

 

[Asharus]

LOL, fine, a co-op. Anybody?

 

[Doggiedog]

I used to live in a co-op.

The deductible is the amount of your maintenance you pay that can be deducted from your taxes.

The higher the better.