Ryan Malham is seen in front of his condo in Tempe on Oct. 14, 2020. (Photo: David Wallace/The Republic)
Ryan Malham, a 31-year-old high school government and economics teacher, bought a modest condo in south Tempe in January.
The condo was supposed to be a long-term investment: a place for him to live now with a locked-in mortgage he could afford and a place to rent out down the road when he buys a house.
Nine months later, he’s selling it.
In late September, his homeowners association emailed Malham to let him know that all of the condo owners in the complex were on the hook for $7,500 each for a planned $3.3 million renovation.
“Man, I had to read it a few times,” Malham said. “I was shocked. Scared, like we’re in the middle of a pandemic and it’s going to lead to some really, really difficult decisions