All Forum Posts by: Angelo Forzano

@Ric Ernst this is not a rent issue this is property damage issue. take him to small claims court. in the past small claims was limited to sometimes $500 but lately they've increased that amount upwards of $2,000 in some states for a small filing fee it could be worth it on your part to do some research you don't need an attorney. you might collect something especially if he doesn't show up.

With low interest rates and folks having lots of cash it could take a while. But who says this is a race?

Do what's good for you.

Take your time, get your ducks in a row with the financing , attorney, the general contractor or handyman get all those names, references and numbers piled up . Keep in touch with banks. Call loan Officers ocassionally to chat up current interests rates. Call geico get home insurance quotes in different areas. Drive all over the place. Stop in diners when you like an area to check out the crowd.. Make it fun so when your ready you will feel confident it was a good choice. Btw. took me a year to find mine and I'm glad I viewed so many props.

I didn't see all the post but the laminate flooring is the way to go.. have you ever put any down yourself? For a bedroom that doesn't have a lot of cuts it's not that hard it's a two-day job you'll save a lot of money and after you do the first bedroom trust me the second and third will go quicker .you can buy Closeouts of laminates in many of the stores especially when you only need 120 to 140 square feet per room. They always have small lots they're dumping. Buy the material and hire a handyman at $ 200 per day

I would budget more than $1,500 for the furnace unless you're going to do the labor yourself they start at 1200 and go up to well over 3,000 depending on the size of the property the cheapest plumber ever quoted me was $1,000 labor and then there was another 200 hundred dollars worth of accessories once you start connecting the vents. Don't forget the permit fee. You can't reuse anything if you're replacing a 15 year old furnace

hi. just some thoughts on AIRBNB  The Air bnb market can be  super lucrative  or just OK  it depends on how much effort you want to put in.  I was able to.pick up a beach side SF a year after Sandy hit and started renting it out 18 months later after a refresh.  6 years ago Airbnb was not the PowerHouse it is now so I was using local websites with real simple interfaces that basically put you in touch with the prospective renter with one email I still use the site I think I pay $90 a year pretty straightforward I only offer 7-Day rentals starting 2 pm Saturday and ending the following Saturday at 9 am. This formula has worked great I rent out seven  to 8 weeks and I keep a couple of weeks for me and my family that's basically July and August rentals and I get to use it the rest of the year and in the winter I winterize. the cleaning service has 5 hours t come in and clean.. The situation with Airbnb is quite different . Airbnb is definitely a younger audience that is used to move in and out of places very short term and very quickly.  when I started to post on Abnb I quickly learned Airbnb customers expect fully furnished apartments ready to go at literally 1 and 2 days notice now the problem is you have to clean these rentals when these people leave and give them clean sheets something I have never done before..my renters bring there own..however the Airbnb customers are little bit different. not only will.they will pay more  they'll pay a lot more for short-term rentals however are you equipped to clean an apartment in 2 days notice ? I was not so I have not been successful with Airbnb yet because I'm 90 minutes away from the property and like you I work. something to think about.  Last,  Airbnb has a lot of checks and measures to protect the landlord. Good luck

The area has grown in Leaps and Bounds and everyone knows it's Disney driven I heard or read something a week ago that Disney is thinking of moving their operation to Texas ? tell you the truth I'm not sure if it was fake news or not but you'll definitely want to check out everything Disney if you're going to invest in that market. I looked for a while cuz I was looking for triplex or quad but they don't exist over there. mostly singles and duplexs but the rental market is strong home prices have gone up a lot but seem to be low in comparison to the rest of the country, parts definitely cookie cutter  and I would inspect to the tilt because construction in Florida to me is suspect. so many builders went belly up and Orlando is surrounded by lakes.  they were also in the center of the Chinese drywall debacle in the 2000"s.  I was not a fan of kissing kissimmee  when I visited there a year ago a lot of pawn and gun shops. You know how Florida is communities are tucked behind walls so I would do searches on the surrounding areas just to make sure you're in one of the better neighborhoods. good luck. search Crexi I think they had a lot of listing.

I always start with City-Data. enter the city in the search and you get all the basic demographic, building, average rent, crime and census information including severe weather. They also have forums that dig down into neighborhoods but take those with skepticism anyone having grown up in the area is usually a complainer...they hate growth. investors love growth. lpl

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I agree I was not expecting that! I'm looking to purchase my second personal rental property and I was going to put them under an LLC umbrella . my commercial building has been under an LLC for 25 years. So I'm assuming the quad I'm interested in is falling under a different category I do know that once you go to five units its considered commercial in a lot of areas. now I've got to rethink this so I'm going to go deeper in with the insurance policy about the coverage I have and the limits of insurance.

Every state has different tax laws I would definitely find a local CPA firm or person. . Concerning an LLC I just had a conversation with a New Jersey Bank who told me they will not Finance an LLC because it's an added layer of protection for the borrower and more work for a bank to foreclose if need be. Something you may want to discuss with your lender.

thanks to all. yes, it will be a consideration going forward