Landlord/Invester HOA vs Tenant HOA

[Jeff Zimmerman]

Hi all,

I'm looking into buying a group of condo's for sale in a complex where there is an HOA. Normally I wouldn't think about working with an HOA but all of the condo's are owned by investors so the HOA board is made of of investors rather than tenants.

Depending on cost of HOA dues could this be something that is ok to get into or should HOA's be avoided all together regardless of who makes up the board? thanks.

[Wayne Brooks]

You mean it's composed of Investor owners, rather than Owner Occupant owners.  Many investors just look at monthly cash flow returns today, as opposed to long term values.  Many smaller condo complexes here with heavy Foreclosures got bought up by investors, filled up with section 8, and became police enforcement nightmares.  Depends on what you want I guess.  I'd rather have a condo where the majority are owner occupants.