All Forum Posts by: Gina Stern

Hi Jeffrey, In Florida, when a property is purchased at a foreclosure auction by a third-party bidder (not the bank), the purchaser is generally responsible for unpaid homeowners association (HOA) assessments that accrued prior to the acquisition of the property according to Florida Statutes. Direct message me if you need anymore advice would be happy to help!

Good luck and take a look at the propertyonion.com website to assist you too!

Thats great! Is there a lot of opportunity in California, especially in the South ?

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@Diana Teng have you thought about looking into the Foreclosure Market especially if you are thinking about buying rentals in Ohi? If you can get "boots on the ground" to go look at the state that the property is in for you, then yes go for it. Remember that Foreclosures can only be seen from the outside (usually)so you can still get a good look at the property and the surrounding area and neighborhood to get a gut feeling. Good luck and DM me if you  have any further questions !

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Hi Troy congrats on your purchase, which it seems you purchased at a forelcousre auction. Does your mortgage include your property tax payments? I always recommend to make even a little passive income from a rental after all your expenses, lets be honest you put a lot of effort into this rehab so you should reap a little return. Good luck at the auctions! 

I agree with Nick; there will be lots of opportunities to buy condos at the foreclosure auctions. Unfortunately, since the condo collapse in Surfside, many HOA fees have gone up astronomically, and many owners that have owned for years and are now seniors, simply cannot afford the new fees that they are being presented with. On top of that, personal condo insurance has gone up considerably and is not affordable for many; add to that the risk of hurricanes, which is ever-increasing due to climate change and global warming, and you now have a triple whammy. If you can buy and hold these units, you will be able to see an ROI within a few years. Good luck!

OK sounds good Felicia!