Condo in my neighborhood (Bad Financials)

[Randolph Carty]

First I foremost, thank you for time.

I recently came across a 2 bedroom condo a few blocks away from me in Crown Heights, Brooklyn. I reached out to the broker listed and finally heard back from them.

I was told “the building has bad financials”

What exactly does that mean?

Again,

Thank you.

[CJ M.]

@Randolph Carty

Ask for a copy of the financials. My guess is their reserve is under-funded which means HOA fees could arise and/or special assessments could arise.

I learned this the hard way...and not on a rental, my personal residence!