This mornings blog post made me think..

NEW -> Contingent Buyer Assistance Program
Once you consider the HOA, and that it may well increase, then add on a reasonable vacancy allowance, I'm guessing that a prudent investor wouldn't pay over $100k/unit.
 
I consider myself prudent.

If it isn't one of the premier units, I'd take it off their hands for the liability of having to pay the HOA. The HOA is a killer as in investor. They make horrible rentals as the monthly fees during vacancy just keep racking up.
 
I've waited all day for this... I wouldn't buy North Korea for $360k either, in fact I don't think it would be worth it to be paid $360k to take North Korea off their hands. I'd need a few more zeros behind that number.

I swear... sometimes IHBers are just too into the local market, and don't see the jokes.
 
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