Become the HOA

[Account Closed]

Hello BP, i had mention before that i will be targeting condo due to the country i plan to invest in so there is actually very little option if i want to do a syndication. 

I read the many bad things about condos especially regarding the HOA in which you have no control. But recently i heard from a podcast that invest in condos seem reasonable if you control the HOA.

Anyone here in BP happened to control the HOA & how?

[Steve Babiak]

After a few years of existence, the typical HOA winds up with mostly disinterested owners who will not show up for the annual public meeting where HOA officers are elected. So the clever way to gain control is to get as many votes as possible. And that can be done by getting as many owners to give you their proxy, so you then cast a vote on their behalf.