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Glenn(FL)

HOA Tenant Approvals

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Hello Everyone and Michael. I first purchased your manual about 7 or 8 years ago, however, after years of studying real estate investing (bought my first course in 1991) and thinking I needed to know everything before I began, I fell prey to a bad case of "Paralysis of Analysis". I mean really bad. Somewhere along the line my fear got the best of me and I just gave up. I have been investing in stocks and options for some years and have done pretty well, and about a week ago I was complaining to my wife about one of my option trades in the stock market and wife said to me, "Why in the don't you just start investing in real estate?" It was like a spiritual experience, so here I am again, LOL. Michael after some years and a couple of moves your course and contracts are long gone somewhere, so I'll be purchasing it again tomorrow. Anyway, just wanted to share that. Glad to be here. This question is mainly for Michael, but any input is appreciated. I'm from the Midwest, but I've lived in west palm beach florida for about 5 years now. There are a lot of gated communities and pain in the ass HOA's where I live. How do you put a deal together where the HOA has to approve the tenant/buyer? Or do you just pass? By the way, I just started making calls today with no script and no contracts. After about an hour on the phone I have two pretty motivated sellers and the numbers look good on both. Now I just need contracts and tenant/buyers,but I'm working on that. Thanks

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Hi, Glenn. First, no need to reorder my manual. PM me your full name and I'll be happy to send you a PDF of The Naked Investor, along with the agreements.

Not a week passes that I don't receive an email with a note similar to your post. The investor or yet-to-be investor is struggling with paralysis of analysis. We all want to know everything before we do anything. Of course, that's impossible but a wonderful excuse for allowing your fears to keep you in your comfort zone. Mind you, I say this from personal experience, as well. Looking back, I probably wasted three years wanting to know it all before taking action.

Haha. . .yes, indeed. The south Florida HOA's. Pain in the ass is putting it mildly. I try to avoid them when I can but it isn't always possible. When necessary, we need to follow their rules, as petty and unnecessary as they often are. If the deal is worth the aggravation, put up with their crap, Glenn, and get it done.

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Wow, Michael. I knew you where a good guy back then and I was right. I really appreciate that. Thanks for the quick answer in regard to HOA's. If I run into a deal with a lot of hoops to jump through but the the numbers make sense, I'll just sick my wife on the HOA. LOL.

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Better hope your wife doesn't read that post. :P

Most of the HOA's are more bark than bite anyway. They generally require an application fee from the t/b prospect, sometimes a face to face interview, and then they lord over the application for a few weeks and render their decision. Egotistical, power hungry loons, mostly.

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