All Forum Posts by: Frank Procopio

Did they do. Moratorium on evictions already and are proposing this also? 

remember your buying yourself a job. If it was easy then everyone would do it. Start off small and make sure you like it first. Im a big fan of singles but I would start with a 2-4 unit property so that you can get the full experience with tenants interacting with each other etc. 

Yes its a very good plan, get involved with your local rei groups and connect with fellow landlords. You can gain even more knowledge from them. It is good to live on both worlds, understand being an agent but understand the landlord side of things. That will put you a step above the rest

Screen them like you would any other tenant and understand their degree of assistance and it's terms. About 50 percent of my tenants are on social services payments. 

I started as a rental agent, moved to property manager and then an agent. If I could do it all over I would have started by shadowing a successfull agent. Much more money to be made as an agent which will create alot more opportunities for you. You can always do some rentals as an agent to get management experience. 

Lvt is the way to go, it's durable and if you buy a good commercial grade it has a warranty 

Most important thing in my opinion is to ask for a few different client references and speak with them first

With my sec 8 tenants I typically do the highest allowed by their budget then only do a $99 deposit. I have mostly singles with high rents so it's hard for them to come up with. I find I rent them within a few days and basically build the deposit in to the monthly 

I am a big fan of www.onsitepropertymanager.com

I know that doing the unit repairs is deemed an essential business by Cuomo and I would never let my units be uninhabitable. I employ one full time main man for all my units, he is worried about getting sick now. Locally I have only been able to find one plumbing company working. As of now I plan to conduct business as usual but anticipate a lack of vendors and navigating a few bumps in the road.