Zane Cress
Third condo purchase
Investment Info:
Condo buy & hold investment.
Purchase price: $140,000
Cash invested: $40,000
I got caught in the Covid price run up strong here. I was attempting to take my profits from one plac...
Jay Helms
Thank you BP!
As a part-time investor I'm reluctant to talk about my REI ambitions, but THANK YOU @Brandon Turner & @Joshua Dorkin for continuing to encourage me (via your podcast and posts) to discuss my REI ambitions with eve...
Joe Mackey
HOA resignation confusion??
Our president and vice president resigned via the official HOA board email approximately 2 1/2 weeks ago. They sent out official resignation letters to all homeowners in the email database and also turned in their in...
John Bergstrom
Professional liability insurance needed if on a management Board?
I have one unit in a complex of about 70 and the property management company asked me to be a Board member. We meet every few months via video conference and primarily discuss the management’s need to increase HOA fee...
Peter J.
No HOA reserves ($0). Time to sell?
Purchased a 1 bedroom condo for $180,000 in late 2008. Current CMA value is $130,000. Reserves: Reserve fund was $16,000 in 2008, but NO reserves remaining. There have been no reserve studies.Financials: The condo c...
Kelley B.
Found another reason folks don't like condos
Two days before closing my lender advises that neither FNMA nor FMMC would buy my loan. Only financing 70% of appraised value. 81 of the 86 units are non owner-occupied so they didn't want it. Non-warrantable.Of cours...
Mo Thomas
5 condo deal
I am purchasing 5 condos at $16000 a piece. Total price 81,000. Four 2 bedrooms and One 1 bedroom. 2 bedrooms rent for 650 and the one bedroom will rent for 500. HOA is $159 a piece include water, sewer and tra...
John Smeltzer
HOA Rule Change to Disallow Rentals
Hi - Looking for some feedback. Four years ago I purchased a condo in an HOA community. We bought it for relatives to live in.
Within two years of purchasing, the HOA Board put out a vote to disallow rentals and th...
Terry Lao
Prop management wants rents assign Section 8 rents, can I say no?
Recently new property management (Jul'17) want me to assign Section 8 rents directly to property management company. I have been receiving Section 8 rents direct deposit to my bank account for past 3 years, and sendin...
Uday Raju
HOA - recreational vechile voilation
Hi All,
This is my first property as condo and I have a tenant placed, I am receiving multiple violation letters from HOA board. Its becoming stressful and also given in this unprecedent times.
1) first violation ab...