stevenboy
Posts:2
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| 06/16/2009 11:18 AM |
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| Does anyone know more about this complex? Lots of listings in some stage of foreclosure, etc. |
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ctbuyer
Posts:25
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| 06/17/2009 6:43 PM |
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| Fees might jump up next year and the investment would be worthless, I would stay out of there. The commercial property in Ruffin are also in defaul. That area might go to the dogs for the time being!!!! |
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vegasv128
Posts:7
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| 06/18/2009 1:23 PM |
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| ctbuyer, are you referring to HOA Fees? I read in another post that the entire complex is soon to be non-owner occupied. Is this a good investment for landlords? |
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ctbuyer
Posts:25
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| 07/02/2009 6:05 PM |
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| Yes HOA fees! less than 40% owner occupancy, its horrible! |
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shuyue
Posts:1
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| 07/11/2009 2:17 AM |
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I am interested in buying a condo in this complex because of its low price, if I can get a condo (2br,1bath)for $110,000-$120,000(I can pay cash) and the market price for this condo right now is about $140,000-$150,000,
but I concern about the high delinquency and low homeownership ratio, how high hoa fee can be? I think $30,000 I will save on buying this property is enough to pay for high hoa fee in next ten years. anyone can help me and any suggestion? buy it or not buy it? |
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stevenboy
Posts:2
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| 07/12/2009 9:45 PM |
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| Sounds like a very good idea. I don't think this complex is all that bad a lot of new owners have moved in. At the price point you are looking at even if the HOA's go up 30-40% then you should still be ahead of the game. Many complexes around the town have only a 40% owner occupancy rate. Your money in real estate is far better off than in a bank these days....LOL |
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ctbuyer
Posts:25
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| 01/13/2010 7:22 PM |
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| Did you end up buying> |
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dchestney
Posts:1266
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| 01/14/2010 7:58 AM |
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| ctbuyer--I hope you don't answer that. You only get flooded with crap here if you admit to buying. And it will last for months. |
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dchestney
Posts:1266
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| 01/14/2010 8:22 AM |
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Oops!! Should have been:
shuyue and/or stevenboy--I hope you don't answer that. You only get flooded with crap here if you admit to buying. And it will last for months. |
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ctbuyer
Posts:25
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| 01/14/2010 6:02 PM |
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| I own a unit here and just added unit 191. Management company is a challenge, would love to get the HOA to do a study on its efficiency. |
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dchestney
Posts:1266
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| 01/15/2010 8:16 AM |
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| ctbuyer--About three years ago our HOA dropped its management company (the second one since we bought here in 2002) and started to self-manage. I think that has worked out well for us, but as a relatively small association (66 units in a single building) it may be easier for us to do that than for much larger associations or those with several or many stand-alone buildings. Apparently "good" management companies are hard to find, and often it takes the HOA Board as much time (and more unpleasantness) to monitor and cajole a professional manager as it does to do the managing on its own. |
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queeniechau
Posts:1
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| 01/30/2010 1:51 PM |
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I have not the property yet.
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