All Forum Posts by: Dan Mcguire

We use the landlord locks and change out the cores with each tenant. I charge the tenant at move out for the cost. We have 14 days to refund the deposit.

The Long Island market depends on your goals. As a realtor and investor the buy and hold situation can be profitable. The rentals are scarce and rents have increased in recent years.

On Long Island 250k won’t buy you a house. A handyman special will cost about $400k. You can purchase a lot to build a home.

@Bruce Woodruff

At this point this is all political talk and the moderator should delete or close the entire thread.

@Guy Gimenez

The deportations will need to be looked at along with all other “plans of Trump”. The suggested deportations will impact rentals if and only if Trump does what he says. It also depends on all the other policies. Let’s suppose the Federal Government deports all these folks as suggested by Trump. The available Labor force will shrink dramatically and the cost of services will increase for landlord and other industries. This policy along with the wonderful idea of tariffs will start trade wars and cause other increases in goods such as appliances, possibly cars or any other imported goods. We would see inflation increase further. The supply of rentals would be impacted, but the final impact will depend on the local market. This may hurt some local markets and ease the lack of supply in other areas. We do know the border had its issues, but currently illegal crossing are lower compared to when Trump left in office.

@Jeffery Jones

I have SFH that I rent to section 8. The section 8 rents are based on number of bedrooms. For example , the rental amount doesn't depend on number of bathrooms, garage, basement status or property size. I have found it is beneficial to rent your smaller homes with the program and your larger homes (same number of bedrooms) in the private market. The smaller homes can be obtained in nicer areas while demanding higher rents with section 8 compared to the private market. I currently have a three bedroom with no garage or basement on a very small lot. The home is in a nice area with good school. The voucher holder is happy (very limited inventory) and as the landlord I can get a higher rent compared to the private market.

I would stay away from this, unless you have an empire and can substantially prove it.

The use of the line depends on the goal and exit plan. Purchased a property that needed some work and on the lower end of the market so homes were sitting. Got into the home with a low down payment , made repairs, rented and refinanced to pay off line and eliminate the PMI. Again, it depends on the plan and exit strategy.

As an investor and realtor I took the opposite approach. I searched for properties that stay on the market for a long time. I found a house that needed work, but was also over priced by a tad for the condition. The home needed a lot of work including roofing, windows, siding , kitchen, baths, and mechanicals. The bones were solid, but it was a project. The yard was over grown with trees or weed saplings that grew into trees. The home happened to be owned by an estate and they were motivated to sell. We picked up the home for a large discount as the estate wanted to close the deal. We invested into the property and came well ahead of the local market. This home is one of my favorite rental properties and does very well for us. As previously stated, do your due diligence work and keep an open mind.

What red states have real estate values like California? If we evaluate real estate returns what states have higher values or returns? Red states or blue states?