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paramount.
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February 24, 2009 at 8:48 AM #353639February 24, 2009 at 8:48 AM #353505
CDMA ENG
Participant[quote=macromaniac]Bottom Line:
Don’t buy condominiums. Buy SFR’s with no HOA. Trust me…you could create a whole TV sitcom around this…[/quote]
Don’t you mean drama?
😛
CE
February 24, 2009 at 8:48 AM #353195Participant[quote=macromaniac]Bottom Line:
Don’t buy condominiums. Buy SFR’s with no HOA. Trust me…you could create a whole TV sitcom around this…[/quote]
Don’t you mean drama?
😛
CE
February 24, 2009 at 9:26 AM #353679jpinpb
ParticipantMore like reality tv.
February 24, 2009 at 9:26 AM #353235ParticipantMore like reality tv.
February 24, 2009 at 9:26 AM #353710ParticipantMore like reality tv.
February 24, 2009 at 9:26 AM #353813ParticipantMore like reality tv.
February 24, 2009 at 9:26 AM #353545ParticipantMore like reality tv.
February 24, 2009 at 10:56 AM #353447urbanrealtor
ParticipantMost of the business I do is condos.
I have found that the biggest deciding factor in value is the competence of the management.
The biggest problems are always with the small (like 8 units) complexes that are self-managed.
My favorite was a couple of months ago where the “president” of the HOA had not held a meeting since 2006 and was currently running a deficit with a reserve account funded to the tune of about 30%.
Nobody even had a copy of the cc&r’s and the insurance was insufficient for any type of lending.
In that case, I strongly suspect the president was just keeping the dues.
Even in the meltdown complexes, the professionally managed hoa’s tend to minimize the likelihood of insolvency or unexpected assessments. Of course that does not eliminate the reality of living in a common-interest development.
February 24, 2009 at 10:56 AM #353758ParticipantMost of the business I do is condos.
I have found that the biggest deciding factor in value is the competence of the management.
The biggest problems are always with the small (like 8 units) complexes that are self-managed.
My favorite was a couple of months ago where the “president” of the HOA had not held a meeting since 2006 and was currently running a deficit with a reserve account funded to the tune of about 30%.
Nobody even had a copy of the cc&r’s and the insurance was insufficient for any type of lending.
In that case, I strongly suspect the president was just keeping the dues.
Even in the meltdown complexes, the professionally managed hoa’s tend to minimize the likelihood of insolvency or unexpected assessments. Of course that does not eliminate the reality of living in a common-interest development.
February 24, 2009 at 10:56 AM #353892ParticipantMost of the business I do is condos.
I have found that the biggest deciding factor in value is the competence of the management.
The biggest problems are always with the small (like 8 units) complexes that are self-managed.
My favorite was a couple of months ago where the “president” of the HOA had not held a meeting since 2006 and was currently running a deficit with a reserve account funded to the tune of about 30%.
Nobody even had a copy of the cc&r’s and the insurance was insufficient for any type of lending.
In that case, I strongly suspect the president was just keeping the dues.
Even in the meltdown complexes, the professionally managed hoa’s tend to minimize the likelihood of insolvency or unexpected assessments. Of course that does not eliminate the reality of living in a common-interest development.
February 24, 2009 at 10:56 AM #353922ParticipantMost of the business I do is condos.
I have found that the biggest deciding factor in value is the competence of the management.
The biggest problems are always with the small (like 8 units) complexes that are self-managed.
My favorite was a couple of months ago where the “president” of the HOA had not held a meeting since 2006 and was currently running a deficit with a reserve account funded to the tune of about 30%.
Nobody even had a copy of the cc&r’s and the insurance was insufficient for any type of lending.
In that case, I strongly suspect the president was just keeping the dues.
Even in the meltdown complexes, the professionally managed hoa’s tend to minimize the likelihood of insolvency or unexpected assessments. Of course that does not eliminate the reality of living in a common-interest development.
February 24, 2009 at 10:56 AM #354026ParticipantMost of the business I do is condos.
I have found that the biggest deciding factor in value is the competence of the management.
The biggest problems are always with the small (like 8 units) complexes that are self-managed.
My favorite was a couple of months ago where the “president” of the HOA had not held a meeting since 2006 and was currently running a deficit with a reserve account funded to the tune of about 30%.
Nobody even had a copy of the cc&r’s and the insurance was insufficient for any type of lending.
In that case, I strongly suspect the president was just keeping the dues.
Even in the meltdown complexes, the professionally managed hoa’s tend to minimize the likelihood of insolvency or unexpected assessments. Of course that does not eliminate the reality of living in a common-interest development.
February 24, 2009 at 5:17 PM #354360Diego Mamani
ParticipantI think this is an interesting subject. Some time ago I thought of lending money to HOAs to try to get some decent returns. But, what collateral can they offer? Liens on all the houses there? I would need to first do title searches to find out how many houses have any equity in them.
February 24, 2009 at 5:17 PM #354628ParticipantI think this is an interesting subject. Some time ago I thought of lending money to HOAs to try to get some decent returns. But, what collateral can they offer? Liens on all the houses there? I would need to first do title searches to find out how many houses have any equity in them.
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