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JBurkett19
ParticipantThey should indeed go to jail, but they don’t. The bottom line is that Housing Associations are essentially small governments. They tax through imposing fees and, in theory, return a service for it. Much like our other governments, the services rendered tend to go down, and taxes tend to go up.
The day always comes when they send a letter to the residents saying something like “…by the way, we miscalculated, or have collectively decided on another avenue for the roof repair…and there’s a special assessment of $2,000 this year for each of you. Pay or we’ll forclose. No discussion.” Now, picture yourself as an older person on a fixed income. What happens when you can’t afford your HOA fees? They forclose and you’re on the street. I’d hate to be homeless over some self imposed housing government. I’d rather live in a house with deferred maintenance, than on the street, any day of the week.
The fundamental point in owning real estate is to one day have it free and clear (outside of unavoidable property taxes). But, with HOA fees, you’ll NEVER have it free and clear.
Anyway-just my humble opinion
ParticipantThey should indeed go to jail, but they don’t. The bottom line is that Housing Associations are essentially small governments. They tax through imposing fees and, in theory, return a service for it. Much like our other governments, the services rendered tend to go down, and taxes tend to go up.
The day always comes when they send a letter to the residents saying something like “…by the way, we miscalculated, or have collectively decided on another avenue for the roof repair…and there’s a special assessment of $2,000 this year for each of you. Pay or we’ll forclose. No discussion.” Now, picture yourself as an older person on a fixed income. What happens when you can’t afford your HOA fees? They forclose and you’re on the street. I’d hate to be homeless over some self imposed housing government. I’d rather live in a house with deferred maintenance, than on the street, any day of the week.
The fundamental point in owning real estate is to one day have it free and clear (outside of unavoidable property taxes). But, with HOA fees, you’ll NEVER have it free and clear.
Anyway-just my humble opinion
ParticipantThey should indeed go to jail, but they don’t. The bottom line is that Housing Associations are essentially small governments. They tax through imposing fees and, in theory, return a service for it. Much like our other governments, the services rendered tend to go down, and taxes tend to go up.
The day always comes when they send a letter to the residents saying something like “…by the way, we miscalculated, or have collectively decided on another avenue for the roof repair…and there’s a special assessment of $2,000 this year for each of you. Pay or we’ll forclose. No discussion.” Now, picture yourself as an older person on a fixed income. What happens when you can’t afford your HOA fees? They forclose and you’re on the street. I’d hate to be homeless over some self imposed housing government. I’d rather live in a house with deferred maintenance, than on the street, any day of the week.
The fundamental point in owning real estate is to one day have it free and clear (outside of unavoidable property taxes). But, with HOA fees, you’ll NEVER have it free and clear.
Anyway-just my humble opinion
ParticipantThey should indeed go to jail, but they don’t. The bottom line is that Housing Associations are essentially small governments. They tax through imposing fees and, in theory, return a service for it. Much like our other governments, the services rendered tend to go down, and taxes tend to go up.
The day always comes when they send a letter to the residents saying something like “…by the way, we miscalculated, or have collectively decided on another avenue for the roof repair…and there’s a special assessment of $2,000 this year for each of you. Pay or we’ll forclose. No discussion.” Now, picture yourself as an older person on a fixed income. What happens when you can’t afford your HOA fees? They forclose and you’re on the street. I’d hate to be homeless over some self imposed housing government. I’d rather live in a house with deferred maintenance, than on the street, any day of the week.
The fundamental point in owning real estate is to one day have it free and clear (outside of unavoidable property taxes). But, with HOA fees, you’ll NEVER have it free and clear.
Anyway-just my humble opinion
ParticipantThey should indeed go to jail, but they don’t. The bottom line is that Housing Associations are essentially small governments. They tax through imposing fees and, in theory, return a service for it. Much like our other governments, the services rendered tend to go down, and taxes tend to go up.
The day always comes when they send a letter to the residents saying something like “…by the way, we miscalculated, or have collectively decided on another avenue for the roof repair…and there’s a special assessment of $2,000 this year for each of you. Pay or we’ll forclose. No discussion.” Now, picture yourself as an older person on a fixed income. What happens when you can’t afford your HOA fees? They forclose and you’re on the street. I’d hate to be homeless over some self imposed housing government. I’d rather live in a house with deferred maintenance, than on the street, any day of the week.
The fundamental point in owning real estate is to one day have it free and clear (outside of unavoidable property taxes). But, with HOA fees, you’ll NEVER have it free and clear.
Anyway-just my humble opinion
ParticipantThere are indeed special assessments for the roof replacemnt and any other major repair. That is why I dislike HOA’s. They have too much power and the regular monthly fees never seem to go to anything substantial.
Special assessments for major repairs are as real as a heart attack.
ParticipantThere are indeed special assessments for the roof replacemnt and any other major repair. That is why I dislike HOA’s. They have too much power and the regular monthly fees never seem to go to anything substantial.
Special assessments for major repairs are as real as a heart attack.
ParticipantThere are indeed special assessments for the roof replacemnt and any other major repair. That is why I dislike HOA’s. They have too much power and the regular monthly fees never seem to go to anything substantial.
Special assessments for major repairs are as real as a heart attack.
ParticipantThere are indeed special assessments for the roof replacemnt and any other major repair. That is why I dislike HOA’s. They have too much power and the regular monthly fees never seem to go to anything substantial.
Special assessments for major repairs are as real as a heart attack.
ParticipantThere are indeed special assessments for the roof replacemnt and any other major repair. That is why I dislike HOA’s. They have too much power and the regular monthly fees never seem to go to anything substantial.
Special assessments for major repairs are as real as a heart attack.
ParticipantIf it were me, I would not invest in anything that has HOA fees. Maybe buy a small apartment building? With a small building, you will most certainly have at least a few of the untis rented at all times, plus small units (1 & 2 bed)are easier to keep rented.
I would not live in the same building as your renters. Bad idea. Even the granny flat idea isn’t a good one, unless you can rent to family.
Another alternative is to buy a small house in a decent place. Just make sure your rental income will completely cover your expenses.
I have a SFR that I’m renting and I have found out that you need to have cash reserves to properly cover unexpected expenses. If you’re cash strapped, because you don’t get enough money from rent to cover expenses with a little for maintenance, you’ll be hurting.
My monthly maintenance expenses including lawn care are about $125 per month. This includes a cushion for large expenses like H2O heaters, faucets, appliances, plumbing, etc.
I think you’re on the right track, and rates will not get lower, not to mention if we get crazy inflation over the next few years, RE is the best place to be. Your cash will be worth less in a high inflationary environment.
Never under estimate the value of a house. Everyone needs a place to live, and there’s intrinsic value in a good place to live. In the long run, houses are worth much more than paper money. I think it’s best to focus on what is truly necessary in life. And I believe housing is one of the true essentials.
ParticipantIf it were me, I would not invest in anything that has HOA fees. Maybe buy a small apartment building? With a small building, you will most certainly have at least a few of the untis rented at all times, plus small units (1 & 2 bed)are easier to keep rented.
I would not live in the same building as your renters. Bad idea. Even the granny flat idea isn’t a good one, unless you can rent to family.
Another alternative is to buy a small house in a decent place. Just make sure your rental income will completely cover your expenses.
I have a SFR that I’m renting and I have found out that you need to have cash reserves to properly cover unexpected expenses. If you’re cash strapped, because you don’t get enough money from rent to cover expenses with a little for maintenance, you’ll be hurting.
My monthly maintenance expenses including lawn care are about $125 per month. This includes a cushion for large expenses like H2O heaters, faucets, appliances, plumbing, etc.
I think you’re on the right track, and rates will not get lower, not to mention if we get crazy inflation over the next few years, RE is the best place to be. Your cash will be worth less in a high inflationary environment.
Never under estimate the value of a house. Everyone needs a place to live, and there’s intrinsic value in a good place to live. In the long run, houses are worth much more than paper money. I think it’s best to focus on what is truly necessary in life. And I believe housing is one of the true essentials.
ParticipantIf it were me, I would not invest in anything that has HOA fees. Maybe buy a small apartment building? With a small building, you will most certainly have at least a few of the untis rented at all times, plus small units (1 & 2 bed)are easier to keep rented.
I would not live in the same building as your renters. Bad idea. Even the granny flat idea isn’t a good one, unless you can rent to family.
Another alternative is to buy a small house in a decent place. Just make sure your rental income will completely cover your expenses.
I have a SFR that I’m renting and I have found out that you need to have cash reserves to properly cover unexpected expenses. If you’re cash strapped, because you don’t get enough money from rent to cover expenses with a little for maintenance, you’ll be hurting.
My monthly maintenance expenses including lawn care are about $125 per month. This includes a cushion for large expenses like H2O heaters, faucets, appliances, plumbing, etc.
I think you’re on the right track, and rates will not get lower, not to mention if we get crazy inflation over the next few years, RE is the best place to be. Your cash will be worth less in a high inflationary environment.
Never under estimate the value of a house. Everyone needs a place to live, and there’s intrinsic value in a good place to live. In the long run, houses are worth much more than paper money. I think it’s best to focus on what is truly necessary in life. And I believe housing is one of the true essentials.
ParticipantIf it were me, I would not invest in anything that has HOA fees. Maybe buy a small apartment building? With a small building, you will most certainly have at least a few of the untis rented at all times, plus small units (1 & 2 bed)are easier to keep rented.
I would not live in the same building as your renters. Bad idea. Even the granny flat idea isn’t a good one, unless you can rent to family.
Another alternative is to buy a small house in a decent place. Just make sure your rental income will completely cover your expenses.
I have a SFR that I’m renting and I have found out that you need to have cash reserves to properly cover unexpected expenses. If you’re cash strapped, because you don’t get enough money from rent to cover expenses with a little for maintenance, you’ll be hurting.
My monthly maintenance expenses including lawn care are about $125 per month. This includes a cushion for large expenses like H2O heaters, faucets, appliances, plumbing, etc.
I think you’re on the right track, and rates will not get lower, not to mention if we get crazy inflation over the next few years, RE is the best place to be. Your cash will be worth less in a high inflationary environment.
Never under estimate the value of a house. Everyone needs a place to live, and there’s intrinsic value in a good place to live. In the long run, houses are worth much more than paper money. I think it’s best to focus on what is truly necessary in life. And I believe housing is one of the true essentials.
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