I mean generally speaking I am not a fan of homeowners associations

H. OAs you've heard me talk about them before railing against them, so generally I'm not a fan.

In today's show, I want to talk about when it might be acceptable for you to say, you know what,

HOA, you're not as bad as I think you are.

So generally speaking, I'm not a fan of HOA's,

and you've heard me over the years

talk about staying away from homeowners associations

because they can really be a drain on your

investment they can be incredibly costly they can cut into your return and

it make you even want to pull your hair out so a story I like to tell is about the very first house that I ever bought in Orlando, Florida. I moved into it myself. It was a one bedroom apartment condo, Homeowners Association condo on a golf course. it was small 1970 style whatever but it

had a homeowners association and I was young and naive and I didn't know well I moved

in and shortly after I moved in this homeowners association which cost about

seven hundred dollars a month they had a big assessment guess what they needed to do

the entire roof and they were going to paint the entire outside of the building.

Well, guess what?

That was a huge cost.

So my $700 a month that I just started paying into this homeowners association

wasn't enough.

We all had to come out of pocket and pay thousands of dollars. And here I was young,

didn't make a lot of money. This is the first house that I bought and now suddenly I'm

being asked to come out of pocket for an assessment on a property and I had no say in it. The board decided roof, paint, the whole thing.

So I had to come out of pocket thousands of dollars that I couldn't afford at the time.

...