Do you live at Sheridan Ocean Club in Hollywood? (credit, hoa)

[Wally2008]

I am thinking about buying a condo at the Sheridan Ocean Club. I am getting conflicting reviews about problems with no-see-ums, roaches etc and reports of apartments in neighboring buildings being rented to criminals. Any feedback is appreciated.

[compelled to reply]

Those are condo conversions. Condo conversions 9 out of 10 times get rented out to criminals. The whole idea of the "condo conversion" thing is that so that investors could buy out the units at wholesale prices and rent them out to whatever fool they can find to make money. They let anyone in, including general scum of the earth, sex offenders and criminals. They are also a really bad investment because speculators tried to buy a bunch of them off and now you can find thousands of them for sale in Broward County. Occasionally you can find a good condo conversion complex, but if the HOA there isn't running credit or background checks, don't do it.

The roaches, however, depend highly on the locality. They are everywhere in Florida, although I personally have never seen a roach in my home. That's also a nice area, but try looking somewhere else.

[Wally2008]

Thanks for your reply. I have been vacationing in Hollywood for 20 years and this complex seemed like the perfect spot for me to buy after all these years. I am shocked to read your comments but I appreciate them none the less. Obviously you know the area. Any additional comments are welcome. How does one find a reputable place?

[compelled to reply]

Originally Posted by Wally2008

Thanks for your reply. I have been vacationing in Hollywood for 20 years and this complex seemed like the perfect spot for me to buy after all these years. I am shocked to read your comments but I appreciate them none the less. Obviously you know the area. Any additional comments are welcome. How does one find a reputable place?

Yes, east Hollywood is a very special place.

I think your best bet is to find either a smaller, well kept building with a good landlord or perhaps a high rise. What are some characteristics you are looking for in a place/home? Also, keep in mind that the RE market is in especially bad shape down here. Your best bet right now is to rent and sit, until prices start to bottom out.

[Wally2008]

Thanks again for your input. I think I will sit and wait longer as you suggest.