All Forum Posts by: Mark S.

@Gustavo Delgado Many HOAs are having trouble even getting insurance right now.

@Bill Brandt You shouldn't get those kind of assessments if the HOA is managing its reserves properly. Unfortunately many aren't doing so because owners are more concerned about the size of their monthly dues rather than properly reserving. I've lived thru this with multiple HOAs.

@Joe Cusick Do a search on this site for instances where holding property in an LLC protected the owner in a lawsuit. You will find it interesting.

@Joe Hammel That leaves you with no reserves for unexpected repairs or vacancies.

@Emily Fraser There are paints that can be applied at 40 degrees. Why not touch up the areas that need it, even if it looks a little off, and then do a full repaint in the spring? I did something like that a few years ago and had no issues with the paint. Good luck!

@Julien Jeannot It's not that easy. A letter from an attorney isn't likely to do much. In many, if not most, states there is no regulatory agency overseeing HOAs. Your only option is to go to court and from my experience that can be a multi year process, along with being very expensive, with no guarantee of prevailing. And HOA boards understand this. I am not pro or anti HOAs, just stating what my experience been.

@Bryce Palmer You can’t buy real estate with no money. Sure, someone will respond and say ‘find a seller-financed property where they will

not require a down payment’. Easy to say, hard to do. And what happens a when the (fill in the blank) breaks or you go a month or two without a tenant.

@Matt Devincenzo and pay taxes on the entire value of the home in that situation

@Spencer Herrick REI Hub. I stayed with Stessa and moved to REI. Great product, reasonably priced and easy to use.

@Jared Fisher just like in any occupation, there are good ones and not so good ones. I once was selling an investment property and the buyers inspector claimed the three season porch was unsafe and the support structure was not built with treated lumber. Apparently didn’t know the difference between treated and untreated. My structural engineer wrote a relatively scathing critique of the inspectors report for the buyer. Had another inspector say there was a dangerous, uncapped gas line in the garage. It was simply a 3 foot section of pipe hanging on a hook. Unless you are fairly comfortable with your own knowledge base, you might want to consider hiring two different inspectors since every one will come up with different things on the reports.