KenW (Florida)
Posts: 2
Posts: 2
Posted:
Great forum, I am trying to find hoa's that are not for profit and own a golf course that makes a profit. We are considering doing the same but do not know many of the answers to questions we have. ie. Can the hoa hire their own employees to manage a profitable operation for a not for profit organization or do we have to hire a separate management company to manage the golf course? If we have a cam company, can they manage the golf course for the hoa? Are there special provisions or requirements for financing such a takeover? Our idea is to assess all homeowners through a referendum to finance the majority of the purchase price then either use a financial institute or ask the present owner to hold the note. We understand that we will need the assistance of a qualified attorney, which is another question. Are there attorneys in Florida that specialize in helping hoa's? Thanks for any help!