Mark J. Podolsky explains why to avoid property owner and homeowner association dues when buying land. A Pennsylvania subdivision charged transfer fees, monthly dues, special assessments, and water fees. Ask about all dues upfront and understand exactly what the association does with the money.
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Tip #5
March 28, 2012
Hey, it's Mark the land geek again. And let's talk about tip number five, avoid those POA dues. So let's get started. Another great question to ask. Are there property owner association or homeowner association dues associated with this property? I once dealt with a subdivision Pennsylvania and I'm telling you, this subdivision nickel and dime their owners any way they could. First there was a transfer fee, then there were monthly association dues, then there were special assessments, then there was a water due. Even if you weren't even accessing water, you still had to pay a water fee every month. I mean, it was just a mess. These can be avoided just by asking the simple question, are there dues associated with this property? Most of the time I look for property that is really straightforward and simple. There's not going to be a lot of restrictions and there aren't going to be dues. But sometimes there's these really nice communities where, you know, there's a golf course and a lake and a gated community and they maintain their own roads and they maintain their own community and there's going to be dues associated with it. That's fine. Just make sure you know what you're signing up for. Typically I tell people you can find a great community without the dues, but if you have to get a community with the dues, make sure you know every single fee associated with it and what that property owners association is doing with your money before you make that choice. It's a mistake not to. So there's tip number five. And if you want to learn more about how to create an incredible passive income, creating land notes, buying land at tax sale auctions, hitting the Internet for all these incredible savings, buying land, pennies on the dollar. Let's have a free 15 minute consultation and discuss it. 800-428-3760. There's never been a better time to get started in the land business or real estate in general. We all know it. However, look, it's new. I was very overwhelmed when I started. I didn't have a mentor. There was no program like this. And so I can really help you get yourself on the ground running or whatever the cliche is. I don't even know what it is. Hit the ground running. That's what it is. Yeah, hit the ground running. Call me 800-428-3760 and let's find out if this is the right business for you.
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