Real Estate Modeling Course

  • Real-life RE Modeling Tests from actual Interviews
  • Various asset classes including multi-family, commercial and more
  • Huge discount - until more tests and cases added

Comments (6)

Feb 13, 2021 - 1:31am

If I was you I'd look closely at this underinsurance thing before committing to anything.

I'm not familiar with US laws and HOA, but if it's a bit like condos it may mean you'd be liable if damage occurred in a shared area or shared wall or something. Again, what I say may be total bullshit but take a look at it for sure.

If everything is okay then I'd go for it. One of the biggest perks of having a high paying job is to take care of your family and I'd do it in a heartbeat.

Feb 13, 2021 - 1:31am

If I was you I'd look closely at this underinsurance thing before committing to anything.

I'm not familiar with US laws and HOA, but if it's a bit like condos it may mean you'd be liable if damage occurred in a shared area or shared wall or something. Again, what I say may be total bullshit but take a look at it for sure.

If everything is okay then I'd go for it. One of the biggest perks of having a high paying job is to take care of your family and I'd do it in a heartbeat.

  • Investment Manager in HF - Other
Feb 13, 2021 - 11:43am

I would look into the HOA stuff. As someone else pointed out you may be liable for costs if the association can't cover. Additionally, it may be a barrier to sell, less likely, but know that at a minimum a red flag like that will lower the property value. Outside of that seems like a good way to help the family if you can maintain a reasonable emergency fund and feel comfortable financially. 

Feb 13, 2021 - 1:49pm

If no lender wants to touch it then it certainly means that the HOA Reserve study is all kinds of bad. Like they need to charge a $10-50k one-time fee to everyone in the HOA to pay for deferred maintenance and to make up for a shortfall in prior years(potentially decades) funding into the reserve account. In most states HOAs are required to undergo reviews done by a CPA firm. The review should be available to all members of the HOA. 

I used to do these reviews when I worked at a shitty CPA firm. Do not recommend.

It might still be worth it, but definitely be ready to write a fat check at any point.

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  • Associate 1 in IB - DCM
Feb 13, 2021 - 2:26pm

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