Miami Condos - No Reserve!

1 Reply

Hello everyone! I was wondering how many condo investors measure HOA health? I see herd in South Florida, specially Hialeah, old condos have no reserve! A typical Hialeah condo ask $160k and can be rentrd by $1,500 month but I was told that most of them do not homd reserve. Is there any strategy to invest on those? or it is a no-no? I will aporeciate your thoughts. Javier

Dear Javier: You can still purchase condos (slightly higher price though) with reserves! If no reserves = would have to have at least a 25% downpayment = think of the re-sale value...