All Forum Posts by: Anthony C.

@Joe Homs Hi Joe. Tried listing it but little interest given the financial state of the HOA and the condition of the building; no buyer wants to take than on. I have 30 year fixed at 4%. I feel like I'm trapped. At least the property is paying for itself c/o rental income, but it's not a nice feeling knowing that you can't offload and can't repair as no lender will lend to fix the $500k plumbing issue.

Hi - I am stuck with an investment property that I can't offload. Purchased in 2008 for $415k (Redfin current estimate $460k). Currently rented for $2450/month (net $2200/month less prop. mgr. fees). I'd like to offload as building has systemic plumbing issues that will result in a ~$550k special assessment (24 units = $23k/door). Building has been poorly managed and is riddled with issues. HOA is also under water with delinquencies, therefore not possible to get a loan to fund special assessment. Any advice on how to exit?!