All Forum Posts by: Angelo Forzano

@Hannah Lewis. I'm not sure what your relationship is with him business-wise or if he is a seasoned hard money lender but generally 10 % in this

current market is good.. for investors the comparison is always the stock market or CDs none of them are bringing in anywhere near 10 so to diversify and get 10% from Real Estate..with a secured position... estate is great I would actually offer him 9 to start. the contract should be written up by an attorney after both of you agree

to terms .you said you're doing a flip ? don't agree to any hard finish date otherwise he may ask for penalties after that

@Shion Queen hi. I'm in the same situation now with a fourplex I informed the bank it's going to be delivered vacant they said no problem as long as the LTV and 20% down is met plus personal financial history is good once you go past 4 units in my area then it goes into the commercial division which could be different circumstances also I asked the banker about an LCL versus privately owned he said they will not finance an LCL because of the added layer of protection it offers the buyer.

@Robert Mitchell I know a reliable house cleaner in the Poconos I'll reach out to her and see if she's taking on any new clients she handles many high-end homes around Lake Harmony. She could be a good contact for you on other matters also because she's reliable

@Ethan Kramer you mentioned lender I'm curious are you using a mortgage broker or are you working directly with a bank?

@Rosaria Pipitone hi. Disregarding some of the post that you received concerning drug use there are a lot of high-end areas in the Poconos near the Mount Airy Lodge which is super expensive and a big draw because of the casino. I would definitely check out Mount Pocono, Lake Harmony, Lake Wallenpaupack. Houses are 500 to 800 k. I would say anything in this general vicinity is going to put you in summer and winter activities ..are you looking to Airbnb? Catskills and the Poconos have both seasonal activities I have a rental down the Jersey Shore but its pretty much w 3 month season

there. Check air bnb prices !

@Alyssa Czopor. Hi. The responses from everyone here are pretty much right on do you research for the area, you know anywhere within 2 hours of New York City can be lucrative check out the Poconos also it's a hot area and you get summer and winter rentals same as the Catskills . make sure whatever you buy allows short-term rentals otherwise you're at the mercy of your neighbors telling on you. Prop management is definitely an issue however if you're talkin about a couple of bedrooms and one bathroom is not that much, you need to get a local handyman.!!!.. get recommendations from the realtor. Craigslist works or other local websites. a property manager is only going to do what you do, make a phone call on your behalf. My handyman did quite a bit of work 7 years ago on my property we kept the friendship and he'll shoot over there for a clogged toilet however I have not needed him because I did a renovation and everything is still fairly fresh once you've determined an area and have figured out if short-term rentals are allowed go to Airbnb and check the comps very easy to do?. you should also take a course on Airbnb either through YouTube or a dummy book because Airbnb has a lot of layers and it's not something you want to start out learning 2 weeks before your going to rent the property. Last , if you get to the point of owning something you decorate the same way you would decorate your house . short-term rentals are not like long-term rentals when someone comes into your cabin they want to know they're in the Catskills so you'll decorate it nicely then the photographs will pop! people will remember your place if you stage it well. Good hunting!!

@Adam Martin. Hi. we had a shady neighbor down in the tourist area of New Jersey where the houses were vacant usually all week and then in the winter . this guy was running an extension cord to his neighbor's house pretty regularly finally the neighbor caught him and called the police. The police arrested him for theft of services. Same as stealing your lawn furniture

@Heather Collier I'm not sure what type of area it is and why people go there. my air B&B is located a few blocks from the ocean so the ocean is the main draw. I used to offer my backyard and a barbecue grill as part of rental I eliminated that after the first year simply because it can cause outdoor disturbances. you have a pool, that's the outdoor disturbance all of the other things that you mentioned she complained about are non issues you will never get in trouble for them that's why I've not heard you mention that the police have been called there's nothing to do but how do you keep your tenants indoor if you have a pool, that's the

key. I would block your phone number so the neighbor can't call you anymore enough is enough and this is just putting stress on you then make sure you're Airbnb states 25 and older put some verbage in there that indicates extra visitors will be charged, pool closes at 10 quiet area family area ,no parties allowed. every little bit helps. Good luck

@Jeff Moore. Hi. Another option. I use netflix its 7.95 a month for 3 tvs used at the same time.

I have 4 rental units with 7 tvs so I have

3 accounts at $24 a month. Guests use there own Netflix login. I then loaded a firestick in each tv. Those are one time purchases. Most i pay used $20 to 40 each. With the firestick they can now access Hulu ,Amazon video ,sling , etc..a bunch of other packages that can be used if they have their own accounts. Bottom line people are using my place for the beach they watch TV for a couple hours and go to bed no one has ever complained about television and when you're on vacation who cares what's going on in the rest of the world LOL but it's the truth no one has ever complained as long as

they can watch a movie with kids

they're good. Btw. I only pay for Wi-Fi $40 a month through my Verizon carrier. I use my own router $220 it was a one-time purchase better than leasing it through Verizon you need to get a good router if you're going to be running a lot of TVs and devices.

@Jorge Hernandez Diaz

My LLC was in my home state of New York my property was located in Connecticut check with your local CPA