Tim Bell finding properties 38

Tim Bell explains how to find properties through homeowners associations. Board members can share lists of residents with unpaid HOA dues, letting investors approach owners about selling. The buyer pays the back dues, which solves the HOA's delinquency problem.
Chapters
Alright, the next one here, homeowners associations. Now this is the homeowners association of a 284 unit condo development in Orlando, Florida. These folks, we've got the president in the middle, we've got vice president, secretary, treasurer, we've got a bunch of different people. Well, what would happen if one of those people was say your Uncle Ned, okay. And Uncle Ned being on the homeowners association board, he knows who is not paying their homeowners association dues. Okay, Is that a problem for this presidency of this homeowners association? Yes, it is. It's a problem. They need to get their dues paid. So if Uncle Ned, your relative or friend or whatever on the, on the directorship and the board here of the homeowners association, if he were to pass on that list of people who are not paying their homeowners association dues, you can help solve these folks problem. Why you're going to go knock on the door, ask them if they want to sell their house, if they want to, if they want to sell their place, then you'll purchase it. You'll move a nice new family in there who will get the homeowners association dues paid. Plus most homeowners association dues are a lienable item. So in many cases the homeowners association is going to require that if the ownership of the property changes hands then all of the back homeowners association dues are going to be paid up. So not only are they going to get somebody there in the future who's going to pay homeowners association dues, but they're also going to be made whole and get all of their past or back homeowners association dues typically paid. That's usually what happens. So again, that's what's in it for these folks. That's why it would make sense for them to share that list of people who are not making their homeowners association payments with you.










