All Forum Posts by: Brian Zaug

Cmon now.  What do we need any government assistance for?  We are rich landlords who take our rent and use it to fill up our Yachts and to heat our vacations homes in Dubai.  A stimulus check would be nice though,  my work Porsche that I pick up cash rents with could use an oil change.  

@Nick Rutkowski      I went to college at Cortland.  You doing student rentals?  I live on Tompkins and Owego st.  Go red dragons. 

I just finished up another brrrr and this was a good one. 

I purchased a duplex cash for 90K and rehabbed for 40K.

I'm All in at 130K.

Duplex gross monthly rents are now $2300 (util. seperate)

Appraisal came in at 205K!

I'm doing a 70% cashout refi so i'm getting back the 130K i put in, plus an additional 5K which i'm buying a sweet quad with! 

Thanks to this house, I have about 1k a month cashflow coming in,  a new quad, and still have all my money.   

I'm hopefully closing on a cash out refi next week and my lender just sent me this "Tangible net benefit form" which asks me what i'm going to do with the money i'm pulling out of the house.  Is this normal?  I'm using it to pay off private lender.  

Just had an appraisal today in Pougkkeepsie, NY.  I'll keep you posted when it comes back in a few days.  The appraiser said he's been very busy still so that's a good sign.  

So you lost 80k in mentorship, 50k in a bad flip, and your tenant is behind rent 15K.  I'd say at this point, take whatever money you have left and invest in airline stocks.  

Tell the downstairs people to call the police.  You could also forward the upstairs tenant a violation notice for smoking in the apartment (if it's in your lease of course).  Otherwise, i'd try and stay out of it best I could.  

Had a house with a similar situation. Yellow/black ceiling in family room from a smoker. We cleaned it really well with TSP, then we primed it with Killz oil primer. That primer was potent. Then we hit it with 2 coats of behr ceiling paint, the only spots left are the white oil primer spots on my face. It took a few weeks to get rid of those but the ceiling looks great

I purchase rentals in c/d neighborhoods and i've made a bunch of money doing it.  Trick is to stay focused on my proprietary algorithm:      High crime + High Tenants = High returns

What the cluck?!  Other than them attracting rodents, crapping all over the place, feathers everywhere, coop stinking to high hell, probably illegal on multifamily property, noises and clucks starting at 5am everyday, and your other tenant pissed off at you, I don't see a problem.  Just make sure you're lease has you getting at least 50% of the eggs.