All Forum Posts by: Anthony Barbato

My properties are all metered separately for gas and electric, so the tenants will pay those. I pay water for all my properties.

Thank you for the info gentlemen.

Does anyone know the minimum renter age in New York? I have a prospective tenant that would like to apply and put her 16 year old daughter on the application and lease. Is this legal, or is 18 the legal minimum age?

At this point, with the abundance of valuable information on BiggerPockets, I would pay any money to a mentor. My suggestion would be to pull some equity out of your home, purchase a distressed multi-family property, rehab it, and then rent it out. This way, you will generate new equity in the newly acquired rental, to replace the equity that you will lose in your home. You will also generate some cash flow that will last forever, to combine with your retirement funds. If you feel compelled to, you can repeat this process over and over as much as you are comfortable with depending on what you need for retirement.

Reach out to Chris Sardone of Sardone, Robinson & Associates. Wonderful guy and full of real estate knowledge. He also speaks occasionally at the local REIA meetings.

In my opinion, the Utica market doesn't have very much to offer. I am about 120 miles West of Utica, but all of my family is from there. Utica was a great city many, many years ago. Over the years, it has gone downhill and still seems to be shrinking as far as population and business growth.

Just curious how some of you without a dedicated office are dropping off and picking up tenants applications while remaining professional and business-like? Usually I drop off an application to an interested party at the new unit being rented, and show them the unit at the same time. My question is, once they leave with the application and call the next day to tell me it's ready, what do most of you do? Do you meet the tenant back at the apartment just to pick it up? I'm worried that if I tell some of the lower income tenants that the application needs to be emailed back to me, they won't have internet access or access to a scanner. Any input would be greatly appreciated.

Alright folks, here's my current situation: I own a 2 family rental property that I closed on about 5 months ago. Both sides are now rented out, so it is now generating some cash flow. This property is in an LLC. Now, my fiancée and I are looking for a new home together. We both live with parents right now. I don't want to stop investing, but I also don't want to go try to find anymore funding as we have already gone through the Pre-approval process and I don't want to add anymore debt, which would become a problem when we find our home and try to obtain a mortgage. With this being said, is there any possibility that I can find funding through my LLC, that would not affect my personal credit, so that I can continue to invest?

A big part of real estate investing involves researching markets, specifically whether those markets are in an upswing or a downswing. What is the best way or the most popular way to do this research and find this information? Rather than researching a particular city, can you research which cities are in a downswing for example?

Dave Savage thank you very much for the reply. I will definitely look into the FFREIA meetings. Hope to meet you someday!