Do you buy flips in communities with a HOA?

[Brian Garrett]

For buy and hold I don't like HOA communities due to the lack of control and volatility that could impact cash flow.

What about for flips though? Do you guys buy flips in HOA communities or do you find that it limits your buyer pool?

Any potential concerns or restrictions when rehabbing in a HOA community other than increased holding costs?

Obviously the goal is to sell the property as quickly as possible once it's ready so I'm just curious on your experiences.

[David Rubio]

I would avoid HOA flips unless it's a sweet deal.

They can make you pay an "Equity Participation Fee" like a buy-in to their golf-course membership that both you and the end-buyer would have to pay in order for you to be able to flip the property.