All Forum Posts by: Reed Lambier

@CJ M. That is horrifying and exactly what I'm afraid of. I spoke with the manager of the HOA for an hour today on the phone. They said they don't want to increase the HOA for at least another 3-5 years. I've had awful experiences with HOAs in the past as well but I'm not sure where else to look since the market seems to be saturated with nothing but townhouses and condos in my price range.

@Carleton C. that's what I'm curious about. If you are renting out of state is it ever worth it as an investor? This would be studs in policy and a lot is covered under the HOA, including water (it's in the desert). I'm just so paranoid about getting involved with them again.

I'm looking to buy out of state due to home prices being so high in the city I live. I'm looking for a good place to get started and I have found a serious contender. Although, it is managed by an HOA with monthly dues. HOA covers Trash, Maintenance Grounds, Insurance, Water, Management. Are HOAs always a no no for rental properties? Out of state or not? I've personally had horrible experiences with HOAs in the past but I'm seeing what others think.

FINAL UPDATE: The seller tried to sue me for my earnest money. After they realized I was fully prepared to take them to court they backed down last second and I ended up getting my earnest money back. I still lost the $1200 for the appraisal and the inspection but the real estate company I was going through (CANO) paid for my lawyer because they realized they royally messed up and failed to catch this lawsuit as well so at least I didn't have to pay for any legal services. The Principal Real Estate Agent apologized and said this was one of the worst first time home buying experiences he had ever seen. So all-in-all the nightmare is over. Lost 2.5 months of my life but it could have been a lot worse had I bought this property and that special assessment landed in my lap. Real Estate....not so much fun thus far.....

FURTHER FURTHER UPDATE: @Julian Delgado for legal purposes I shouldn't disclose any further information on this until things are settled. In a nutshell, things have gotten even more ********ty'er. I'll update this thread with a more comprehensive update as soon as I am able. 

FURTHER UPDATE: The seller has decided they are entitled to my earnest money for catching them lying and backing out of the transaction. Lawyers are involved now and I will likely end up going to court. The brokers said this is one of the worst first time home buying experiences they have ever seen....awesome.

UPDATE: I might lose this property. While trying to figure out what the HOA covers so I know kind of insurance I needed to pay for, I may have uncovered a blatant case of seller fraud.

Probably a terrible time to buy a house but I just purchased my first home. It's a 3 story, 3 bed, 3 full bath townhouse in Vancouver WA. It is set up perfectly to rent out but I have to do some light work on it first, which I am looking forward to. After this I will either rent out some of the rooms or I will wait a few months and move out completely and give it over to a property manager. Minimum I can have it paying itself off with a tiny profit at first. It won't be hugely profitable at first but after PMI disappears and I refinance after a few years it will be pulling in a nice profit. Excited to start this journey.

@Jay Hinrichs what kind of program are you referring to? Is it for land? I'm just looking to get started at this point and flipping land is better than sitting on the sidelines at this point for me. Are you the one rolling this new model out?

I've been doing research on different real estate business models. As I've been continuing research to enter the housing market, I stumbled across some interesting land investing models that seem kind of neat. These are Land Academy and Land Geek. Their business models are nearly identical but they are priced differently and one is more established than the other. However, all the forums and discussions around these programs seem to be several years old now. What is everyone's take on land investing in 2019? Does anyone have experience with either of these programs?

@Chace Fraser I've been looking at both places as well. Longview has been blowing up recently. Do you have any links to the 200k duplexes in both areas?