All Forum Posts by: Uneeq Khan

@Elise Whittenburg

We just had a meeting last week. We don't have regular meeting. Only when there's an issue the president is pissed off about.

I've only seen the finances that was presented to me. Not all the finances that are available, such as transactions in the reserve funds, and expenses made to vendors, and collection of assessments. These were not given even though it was requested. If I want to see them, I have to take a day off and go to the office during business hour to review the unorganized boxes of documents. They are. Ot willing to organize it to make it easy review.

The president thinks all this information is not suppose to be available to the members, only board. However the by law says otherwise. That's why they are finally allowing me to view it.

There were only 2 members before. Now there's 4, including me.

@Wes Johnson

Thanks that was very helpful. Yes I'm currently working on building an estimate based on materials via home depot So I have a better idea and then use a contractor to give me quotes on labor. Would it be good to use some of those online site for quotes on labor like thumbtack or homeadvisor?

@Dana Whicker

So I managed to get my self on the HOA board by using the bylaws against them. Next will be to kick the old members out and put in new members but I just can't get enough engagement.

While investigating into past issues and handling of money, the previous HOA board just did a terrible job running it. They always gave preference to cosmetic issues like landscaping and power washing instead of issues that are hazardous and code violations. Peoples front steps are falling apart rear decks are falling apart, others have leaks in their roofs too. Nothing was done. But somebody's dog took a piss on "his grass" in front of his home, he threw a fit, filled a lawsuit, and spent a bunch of HOA money to redo the landscape. He wouldn't fix others front step, but he was quick to fix his own, and replaced it with a better design while everyone else got a bland design. They are now proposing on spending $2k on the entrance sign, even though you can repaint it for $100 and it would be just as good. They want to run an electric line to get some lights by the sign but solar powered garden lights would be just as good.

They have finally address the roof issue. The HOA is taking a loan out to get the roofs done and the loan will be paid by increasing the HOA fees to cover the monthly payment for the loan.

They are finally allowing me to review the financial documents but it's all paper, none is digital, and I have to find time during business hours by taking a day off to drive 45 minutes to go look at these unorganized boxes of documents. Making it very difficult for me to review. Also come to find out two owners have not been paying HOA fees. Total of over $11k in delinquency. This information was not only hidden from all the other owners but the title companies when they requested this information from the HOA.

HOA president clearly doesn't know the by laws for our Association. So surprised he's president. Sometimes I feel like he just makes up his own rules and no one (besides me) questions it. Now I carry digital copies I made of the rules with me on my phone and just fact check him everytime he speaks to me.

At the moment it's hard to determine if there was money being stolen or anything shady done with the finances or hes just very very very bad at his job and stupid AF. He wants to be a completely hands off president. Have all the power but none of the responsibilities.

Overall ... small progress. Thanks to all who have given me advice on the matter. I appreciate the help and support.

Is it best to calculate rehab by breaking it up into rooms? Or into stages (demo, build punch out, etc)?

@Tom Gimer

When the HOA puts the lien, those attorneys fees gets put on the owner of that home or the HOA?

@Bruce Lynn if I have to pay lien at closing I would negotiate a much lower price.

@John Underwood

Not sure what their situation is with taxes but I know they are not paying HOA. May be easy to assume that if they aren't paying HOA, maybe they aren't paying taxes. How long do they have to stop paying before it goes to auction?

So I've got some information about a townhome property in a HOA complex that is about $4k delinquency for not paying HOA and the other is $7k. The one whose $7k lawyered up and worked out something with the city, wasn't told what. The $4k one has nothing done so far but HOA is looking to put a lien.

I want to buy that house. What strategies are there for buying a home that is about to have a lien put on it? Thanks.

@Jared Broderick

When you buy good and then sell it, do you have to pay taxes on the profit?

Anyone know a good company to use to find contact info of owners of abandoned properties? I've come across a lot of them in central NJ.