Do Not Buy A Condo In Florida!
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...
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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.