Holy shit!! And if you weren't so persistent and pushed to learn of all those extra monthly costs coming soon (which is probably why current owners were selling!) the realtor nor the sellers were going to voluntarily alert you to these charges you would be stuck paying for years!! Good for you!!!

@@user-sd5ow2lz9o Seriously who would even think about doing that deal? Crazy AF.

That's not an asset. That's a liability.

@@schoomzer What are assessments? In Texas, assessments refer to what many people call "dues." Each owner in a property owners' association must make these payments. Failure to pay assessments can result in fines and serious penalties, including foreclosure.

Brokers only care about your money. They could care less whether it is a good deal or not, they just want to get your money. Brokers fees are crashing down b/c they are so shady and unscrupulous.

You just added POA- never heard that acronym. I just recently learned about COAs too as I am looking to buy a new property. Too many ifs out there.

You rent apartments. You don't buy them. Pretty simple.

@@1969bones69- I’ve heard that quite a bit from people in Florida while in other countries there simply isn’t enough space in the cities for everyone to have a single family home. I just assumed Florida was the same way.

Rent is still paying someone else's bills .​@@1969bones69

​@@1969bones69 Renting is still going to put you in the same predictament as a Condo owner because rents increase every year and you still may not have those outer pocket expenses .

Wages are lower here and while food and rent is sky high!

@@blackorchid2494 Yeah, good luck with that

If you think condos and apartments on the Grand Strand don't have the same issues😂😂😂

@@francismarion6400 Good thing I don’t live there lol

Myrtle beach has gotten a bit out of hand the last 2.5 years. Special assessments, rising HOA costs

Same here, I've always been anti-HOA and this makes me more.

What happens to their paid off house if a grease fire burns it to the ground or someone working on their property hurts themselves and sues for 100k or more? Not having insurance on your paid home is not an option for me

@@TropicalTodd THINK and EDUCATE yourself. You CAN get general, "normal" house insurance for a reasonable amount with wind and water damage exclusion. I got one. I'm covered for burglary, fire, lightening, theft, liability. I'm not covered for weather related flooding, wind and hurricane. I'm saving net: $4K/year plus the $7K deductible. I'm currently at $15K for possible damages (2x4K + 7K) and have a new(!) 160mph rated roof. New roofs did not suffer much, or in many cases, had any damage from hurricane Ian - two neighbors with new roofs had zero roof damage. BTW: If you have an INDUCTON stove/range you'll not have grease fires. There is no flame(gas) or red glowing super hot(electric) surface to ignite grease. I've got one of those too... ...and it's far more energy efficient than gas or electric.

Assuming that people understand that their gambling that nothing’s going to happen to their home. Because of something does and you don’t have enough money to repair it then you get to walk away with nothing.

If your house is paid off you still may not have money. It's called being house rich & cash poor. Millions pf people who did the right thing and were able to pay off their home and be retired also. But many also fell behind because of the bills that don't stop. Utilities are sky high. If you have a claim against your home owners insurance your premium shoots up or you get dropped outright. Any personal emergency could change a person's finances and put them one step away from homelessness when they were once doing just fine.

Agreed, this is gonna backfire big time.

No, you’re not going to find that in most states because they’re required to keep reserves by law. Florida allowed their boards to vote to not keep a reserve.

What condo in downtown tampa was it? I am looking to buy condos in the future in Tampa, just curious….

I bought at 201 w.laurel on riverwalk near the Barrymore hotel. Near the armature. I would recommend Dunedin. Great area. Affordable. Walkable. Oriented to seniors. Has a senior center with great and diverse activities. Superior library with weekly movies. Restaurants shops. A ⛵ marina. Near clearwater tarpon springs. Good places to buy food. Love it. ❤❤❤

I live in Dunedin, every body and their brother wants a to move here! Rices are skyrocketing so be prepared to shell out, home insurance is high, Gov DeSants is not addressing this issue. But, the town is nice and close beach access to Honeymoon Island state Ark. Clearwater beach is close but the traffic to get there is killer.

What is great about Dunedin is that it is walkable. I do not own a car. Live 10 minutes from Dunedin plaza. Has Bealls dollar store lots for less KFC Julian s Italian restaurant drug store. 30 min. Walk from dunkin walgreens Publix st. Pete bagels ups. And 35 min. Walk from downtown and ⛵ marina. In October and November the Walk will be more comfortable. 😊😊😊😊😊. Enjoy walking. 😊😊😊😊

@@JuneKovac How is he supposed to address the issue? Increased hurricanes are the future. Repair costs are astronomical. Are taxpayers supposed to subsidize the true cost of Florida living?

Well, if you were on the board there now. You would be forced to do all of this, and the older owners would have nothing to say that’s what all these videos are about. They’re not allowed to use their vote to make the building a death trap like Surfside did.

@@neilkurzman4907 Amen. It is about time the state government stepped in to enforce safety issues. I think people need to really understand what condo life is all about before buying one. Never, never buy a condo in the 40 year range. Nothing but one problem after another. Especially if the individual owners never updated their windows to make them hurricane proof.

@@MarkMphonoman At the be of the Florida real estate industry, Florida allowed this situation to fester for many years. Before buying into a condo, you should definitely gauge the condition of the buildings and their reserves because that represents a future expense for you. My condo complex is just one and two stories and it’s over 40 years old. Currently in a reasonable state of upkeep. But we had assessments in the past because we didn’t have sufficient reserves to cover obvious repairs. Like 20 year roofs being 20 years old.

@@neilkurzman4907 We had to use special assessments to fix our A/C, roof, and elevator. Residents fought us tooth and nail. Interestingly, drove by the condo on a recent trip to southeast Florida. From the outside the place looks great. Lol

@@MarkMphonoman That’s right we had a pool assessment apparently after 40 years, you have to dig them up and start over. I think it was 300 apiece and two years.

How did they prove to the Insurance Doctors that he was hurt if they were not ?

@@sarahann530 Soft tissue "damage" or permanent "headaches", can't be unproven

@tonysofla Yes it can be unproven using an mri

@@sarahann530 not with whiplash

@Kodakcompactdisc Whiplash can be seen on an MRI . How long did it take to win the case ,how much did the lawyer receive?

Good for you. Hopefully you have said goodbye to being an agent as well.

If you’re buying a condo, you should check on the reserves and schedule maintenance on the building before you buy. If you can’t, then don’t.

Smart. Hard to believe people did not sell before like you did

Florida condos with an HOA are a waste of money. Tenents pay all that money for nothing. I live in a 55+ golf community in another state with an HOA. We are lucky we don't have to pay 900 a month like in another 55+ golf community. Ours is quarterly which isn't bad.

You lost plenty of money. Not that smart. Unless of course it was a dump on structurally compromised building.

The condo market there must be suffering. Are people still buying, and are their costs worth not waiting longer for home prices to go down?

@@DanceFlame7 there’s a lot of uncertainty for sure, each association is in its own status/situation so a sale would require a lot of due diligence

@@Leslie-xo9gy Down here after the Surfside collapse, we've seen HOA rates go up from 300/month to up to 2k+ a month in a shockingly short amount of time. This is because many condominiums have been hemorrhaging money to crooked associations (20k embezzled from a condo association where my mother lives), and associations simply don't have the cash to afford the mandated 50 year inspections and other repairs that come along with it. It's been devastating the market.

@@DanceFlame7 I know it’s so sad but my MI condo insurance went up 1000% as well- it’s not just Florida- any older properties that did not have a good reserve & deferred maintenance will suffer the increases. Our roofs are old- not covered! Insurance companies cannot replace a property built in the 60’s if the owners never bothered to plan ahead or due updates. Many Boards didn’t raise dues or spent funds on amenities instead. Each property has a unique situation- I have a license to manage condos in FL and it sure seems keeping costs down for decades has come back to haunt owners that enjoyed low monthly dues without thinking “that’s too low to take care of my home”. Ian changed the entire industry- sorry for your mom 😢

@@DanceFlame7 no they weren’t hemorrhaging money to crooked associations. They refuse to collect money to do maintenance. This is all backlog maintenance. They also didn’t keep any reserves to keep those common charges low. Then there’s people like you that blame everyone else except the owners they did this to themselves.

oh I doubt that! I bet you got a lot of headaches from it lol

Why did you buy in a HOA and pay the dues if you knew you were getting nothing in return ? Seems silly

@@sarahann530 when 80% of all houses have HOA's the what do you do? Quit your job and move to another area? lol

@@RussellD11 About 45% of the houses in Florida are in HOAs ,why post bullshit ?

@@sarahann530 im talking certain areas bro.. not state wide...

I live in Cape Coral and this area is getting flooded with condos on the market. I believe Lee and Collier County have an increase of about 40% of condos hitting the market. I live in a single family home and not in an HOA and pre Hurrricane Ian my homeowners insurance was around $2300 and this year it was $8300. No one I know is saying insurance is cheap and a lot of policies getting canceled.

Maybe they actually keep the structure of their buildings up! They have always had really high HoAs

One friend in Makiki 1,000 percent increase another by sandy beach 400 percent increase both with very little notice.

Same! I live here and these buildings are trash

“We don’t have Ron, duh!”

i’m deaf in 1 ear. what music?? 😂😂😂

LOL. You actually bring up a good point. An honest HOA is bad enough but inept and corrupt HOAs are a nightmare.

A corrupt anything is a nightmare, and unfortunately, corruption is out of control and us everywhere, due to uncontrolled GREED!

@@user-sd5ow2lz9o The people of Surfside died because they refuse to fix their own building because it was too expensive. They neglected it for decades and didn’t like the bill. This video is because a lot of other condos in Florida did the exact same thing. It’ll allow them to keep common charges low and resale values high.

@@neilkurzman4907You are perfectly right. The video is highly misleading and tries to make an impression it is a general problem. It is not.

@@pawelpap9we will see.

My word. I enjoy a few special weeks at the beach during vacations, but I can’t imagine paying the absurd HOA fees, special assessments and high insurance premiums for such a privilege. Amazing to me what people will pay for sitting on the sand with a few palm trees. I’ll take my four seasons, mature oak trees and affordable lifestyle in the Midwest any day. Each to his own, though.

@@thomburleson7661 I agree 100% as my son lives near Chicago - heck of a lot cheaper.

Don't come back

@@donpeace894it’s that bad? Why are you wanting to leave too, I honestly don’t think it’s that bad. 🤷‍♀️

@@yvonnepedersen7031 I love Florida I'll never leave cept in a pine box

Smart move❤. Wish I could leave (been here decades) but I’m stuck here for medical reasons. So many other beautiful places to live without the headaches that go with it. You can make over $100k a year and still feel poor. Everyone has their hand out💰

The real estate market in Florida is headed for a crash. Unknown to most people in Florida, that are already facing high home insurance costs, is the the "Socialist" National Flood Insurance Program, the US program that provides flood insurance because private insurers won't right flood insurance is broke, and Congress may defund the program in September of this year. How people in Florida are not aware of this is pretty surprising to me. Congress agreed to extend the program until Sept, at which time the NFIP will have to come in with some kind of fix that places more of the burden for claims on the areas of the country that generate the most in claims, and this will be the Florida coast and Texas cost. The NFIP plan they are proposing will re-structure the rate program so that people in true 100 year flood plains will pay less, but people in storm prone areas will pay far more. There are other plans, but this one would triple the cost of flood insurance in Florida, but it will still be cheaper than private flood insurance. That market is growing and if the NFIP gets de-funded, then private insurers will likely step in with even more expensive programs.

Welcome aboard!

Ronny boy is a Trump cult member and a hole Picking fights w/ Disney, making sure bridges are only lit up in red, white and blue and now no balloon releases. Worst Gov. in a long time. He's done nothing for the insurance crisis, homeless, VETS, nothing nothing nothing!

Wtf lol

So you live in a converted apartment building. And your building didn’t keep sufficient reserves.

That doesn’t protect you from any of these costs or fee increases

@@neilkurzman4907 Yes it does... The Renter absorbs them.

I think those special assessment costs are like a lien on the unit that stretches over years.

@@floridaman7 then that of course is going to affect the selling price

@@neilkurzman4907 years ago i was looking at condos in Minneapolis and a lot of the buildings had those assessments on them and looking at the building and unit had me wondering where did all the money go. It looked like someone took the money and did nothing with it.

Or Moscow!

You like winter? 😮

Florida is a a cesspool and everyone is figuring this out.

totally agree! I live in a 2 story condo near Oldsmar and love it. 1/1, 805 sq. feet on a canal. $152 per YEAR tax bill (homestead exemption) and a fully funded monthly HOA of $253.01 per month. Tennis & pickle ball courts, gym, Jr. Olympic size pool and spa. Roof and paint is replaced every 10 years and landscaping and mowing is weekly & it's gated.

So your insurance is now $120,000 a month?

These should be taken over for government housing. There are many people in need, veterans should be first, elderly second. No one should have to live in their car or van.

@@KathleenGreer-hk6yl The problem is the govt doesn't want them either.

@@KathleenGreer-hk6yltaken over? Do you mean take away from people that used life savings to live in them/ and have been paying maintenance fees for years? Or do you mean government paying people cash for their unit? And where do you think the government take over coin is coming from, your mom’s butt????

@@KathleenGreer-hk6yl By government takeover, do you mean condos taken away from people that have used their life saving/paid maintenance fees for years in order to live there? Or do you think the government should pay people for their property? And from where will this mystical, magical, unicorn money appear?

Not sure anyone would want to buy in. The properties are toxic.

Check out Dunedin. I moved 3 times in 3 years since moving from New York city in 2021. Took me a long time but I believe I found the right place. It is walkable. I never owned a car. It is affordable. Bought my place cash. Includes cable. Have not had cable in almost 3 years. Dunedin has activities for seniors. Great senior center. Great library. Nice main st. Shops restaurants. A ⛵ marina. Near clearwater tarpon springs safety harbor ⚓. Lots of great things. You should check into it. Worth your while. 😊

It really depends on when the condominium is located. If it’s in a good location, a taller building can be built that pays everybody out from the original complex, which is happening at some areas when they see what it’s going to cost to repair their neglected building.

agree. Our Cult member Gov. is a complete ahole!

Best political climate in the US. Who wants to live where the Slow Joe followers live?

Explain what regulation prevents high HOA's? What state has them?

Pretty much accurate!

What if there is a million dollar liability claim? Very few people can "self insure" that. Liability insurance is not for your benefit, it is for the third party, so they get paid no matter what your financial situation is.

@@Tugela60 You must not understand liability. Liability is the coverage of damage done to others property. That's why it is mandatory. If you own your vehicle and you drive it into a lake, your not going to sue yourself for damages. You don't get millions worth of coverage when you insure your car with say Gieco. You get what you pay for. IE $200 a month may get you 20k liability on a non sports car. If you do a million worth of damage the insurance only covers 20k. Your on the hook for the rest. Every state sets the minimum liability a car must have to be registered. If Florida is 20k like NY. You then you put 20k in the account and your done, self insured.

@@mc365mc No, you don't understand what mandatory insurance is for. It is not for protecting YOUR car, it is for protecting OTHER people you might injure or damage, so they are covered for any damages irrespective of your financial state. That is what liability is. What happens to your car is not liability. It might be someone else's liability, and that is why THEY need insurance, so your rights are covered should something happen as a result of their actions.

@@Tugela60 Why do you keep saying that. I never said for protecting your own property.

@Tugela60 SELF-INSURANCE CERTIFICATE (BASED ON NET WORTH) The certificate of self-insurance issued by this department as per section 324.171, Florida Statutes, provides limits of liability insurance in the amount of $10,000 of bodily injury to, or death of, one person in any one crash, $20,000 of bodily injury to, or death of, two or more persons in any one crash, $10,000 of injury to, or destruction of, property of others in any one crash and personal injury protection coverage as per section 627.733(3)(b), F.S. The department will require proof of an individual’s unencumbered net worth by providing bank statements or appraisals of other assets when applicable. A Natural Person is defined as an individual, a living human being. Individual - Filing Requirements A notarized copy of the Statement of Net Worth completed in its entirety (balance sheet indicating assets and liabilities) showing a unencumbered net worth of at least $40,000, application attached.

Yeah, no maintenance, just have to worry about masked gunmen doing home invasions. If you are cool with that, then the Philippines is a great cheap option 😂

@@Tugela60 happens in America. I lived in the Philippines for several years and never experienced what you stated

@@TropicalTodd I know people who come from the Phillipines. They have told me stories of their experience there. Security is an issue. I am from a third world country myself, I know what their stories mean.

@@Tugela60 I had a gun put to my head at a gas station, not in Cebu but in Detroit. I speak of experience not stories. I have zero concern of mask men barging into my condo in the Philippines.

@@TropicalTodd My brother's wife had gunmen jump out as she pulled into the driveway of their house and steal their car. They tried to take her too, but she refused, which is probably the only reason she is still with us today. Their house had been broken into at least four times, maybe more, they stopped talking about it. Eventually they moved to a protected gated community where things were more secure and safe. We had multiple episodes of people wandering around our garden in the middle of the night. House was burglarized twice. Once when we were in bed asleep, once while we were away on vacation (came back to the place trashed). On another occasion found some guy wandering around inside our house "looking for work" after my mom left the door open to go hang up washing outside. My sister had her place broken into. On another occasion she was robbed at knifepoint on the street. And that is just my immediate family. Pretty all of my friends had violent encounters, cars stolen in front of them, people just walking into their house off the street and rifling through purses. One of my friends had his home burglarized while the were asleep, fingerprints taken by the police subsequently showed the burglar had previously murdered another family. People have burglar guards on all their windows and doors, razor wire and electric fences around their houses. They don't park on the street outside their houses because of car theft. You have to watch your back walking down the street. It really sucks when crime becomes so normalized that it is part of everyday life. I have been in North America for over 30 years. In all that time I have never experienced any crime, nor has anyone else I know. The worst thing was one lady I know had her car keyed once. There is simply no comparison.

Thanks for watching!

truth be told I have visited St Louis many times cuz my back office was located there. it was depressing

@@martycallmer9865 - I live thirty miles from St. Louis. You're correct. The city of St. Louis is a nightmare. Doesn't impact me, or my family, in the slightest. 30 miles is a lot.