All Forum Posts by: Edgar Villanueva

Hello Adam 

 I like that approach, I will def discuss it with the Attorney, I have not heard of that method before. Thanks again. 

Hey Anthony

 Thanks for the advice, I think that idea of offering cash to leave is a good one. Will consider. I don't think they want to sell the building, since it's been in the family for a long time thus is going to activate too many capital taxes. Thank you.

Hello Adam and thanks for your reply. My concern is I dont want them to start the process of not paying any rents as this could take months to resolve. Do you know if the City could work with us since these people are there illegally and an unsafe manner? I heard the City still could give them rights. Thank you

Thank you so much Kim.  That is one of our concerns, the fact that this behavior has been allowed.

Hello BP community

I need your feedback. My in-laws own a 4 family building in the Sunset Park area of Brooklyn NY, because of his age 82, he has not kept the premises as he should. To say the least they have not properly managed the property for the last decade. All three tenants (one is unoccupied) do not have current leases and some of the tenants are living there illegally. In fact we just discovered that all three rented apartments have more people that they originally signup for. One tenant made home-made divisions in the living room and is renting that living room and the other bedroom to people we don't know. The other tenant has moved in two extra families with little kids to live there  for a total of 9 to 10 people in a two bedroom apartment. Also these people do not have current leases as I stated and we do not know who they really are as we do not have any documents on them. Our fears are in the case of a fire or anything like such I will like to know what are our rights as landlords or what could be the worst case-scenario. Please advise, we are already in contact with an attorney but I want to know if any of you have experienced this before. Thanks in advance. 

Hopeful Edgar Villanueva

Edward Gomez let me know what day works for you I would love to connect. I work in Morristown and weekends off. Let me know. Take care ...

Hello all

The property is in Aguadilla, the town I was born typical rental not vacation although I may consider in the future.. This property was part of an inheritance and it is a small modest one bed home. However, it is only two minutes from the beach and the new Marina that has the only Ice skating rink in the Caribbean!. For those who are familiar with Puerto Rico rentals, know that the rents are cheaper than in many places. However, we were able to charge $500. for a one bedroom SFH. Which is a good deal given the competition down there. There are a lot of houses in the market and at ridiculous prices. For instance you could rent a 3 beds 2 baths for around $375!!. I mean this is less than 1% ratio to the homes value. But what make our house so appealing was that we delivered a totally remodeled cozy home with appliances which in the Islands most Landlords do not provide. I think that was the biggest difference providing all new appliances in a clean remodeled environment and we try to accommodate any tenant's requests.

I did learn a lot about the processes over there. Things move slowly than I would have liked but hey that is why people live an a Island! to Relax!. My Dad left some other properties in bad shape, so I will continue to work one by one. The first investment I did, but hopefully I could use the collateral from this one to finance the rest. Total remodel cost around $15k in 6 months. Thanks to all for the best wishes! We'll be in touch Saludos!

Edgar V

After about 6 months of rehabbing, finally I just rented my first home in PR!!.....very excited of what the future may bring.....!!!

Thanks all for the welcomes , I look forward to learning and sharing as I grow.!! Have a great weekend!

Edgar V

Thank you Steven for your kind words. I'm looking forward to learn from some Pros out there and hopefully help others in whatever I can. Good day!.