Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago on . Most recent reply

User Stats

790
Posts
521
Votes
Michael Carbonare#2 Real Estate News & Current Events Contributor
  • Investor
  • Fort Lauderdale, FL
521
Votes |
790
Posts

Do Not Buy A Condo In Florida!

Michael Carbonare#2 Real Estate News & Current Events Contributor
  • Investor
  • Fort Lauderdale, FL
Posted

A n00b contacted me about the numerous "great deals" he was seeing FSBOs offering on their condos throughout Florida.  As a resident of the Hurricane Sunshine State, I can tell you it's Fool's Gold.  The assessments. . .it's all about the assessments.
https://finance.yahoo.com/news/poison-pill-facing-florida-co...

Most Popular Reply

User Stats

4,177
Posts
6,010
Votes
Greg Scott
  • Rental Property Investor
  • SE Michigan
6,010
Votes |
4,177
Posts
Greg Scott
  • Rental Property Investor
  • SE Michigan
Replied

Good article.

I had a feeling the Surfside tragedy would create waves later for ocean-front condos.  

I agree with your assessment, and would apply your advice more broadly to all condos in the US.  While certainly not as extreme as the examples in the article you shared, I've seen condo owners in many states hit with special assessments.  (There are too many poorly-run HOAs out there.)  It is a bad idea to make investment decisions where a key part of your return is dependent on decisions that are entirely out of your control.

  • Greg Scott
  • Loading replies...