Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Florida Real Estate Q&A Discussion Forum
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago on . Most recent reply

User Stats

7
Posts
2
Votes
Sinead Norenius
2
Votes |
7
Posts

No HOA reserves but operating funds look good - should I run?

Sinead Norenius
Posted

Hi BP Community! Total newbie here - so bear with me if this question is obvious to others! My husband and I considering putting in an offer on a small 1-bedroom 1 bathroom condo in St. Petersburg, FL. Using the DealCheck app everything looks great from a cash flow/expenses perspective, however, when I asked the RE agent some questions about the HOA, I discovered that the HOA does not have and reserves. She did provide all the operating expenses etc from 2018 and everything looked good but how concerned should I be about the HOA not having any extra reserves? She said some HOA's don't have reserves and that is pretty typical if they have robust operating reserves. She also manages the condos too just as a frame of reference. Totally open to any and all advice on HOA's and what I should look out for in terms of this topic!

Thank you in advance! 

Most Popular Reply

User Stats

14,568
Posts
11,236
Votes
Theresa Harris
#2 Managing Your Property Contributor
11,236
Votes |
14,568
Posts
Theresa Harris
#2 Managing Your Property Contributor
Replied

@Sinead Norenius How far back do to the financials go? Without any reserves, if you need to fix something, there will be special assessments. Even with reserves if the HOA isn't run properly, you can have issues.

  • Theresa Harris
  • Loading replies...