All Forum Posts by: Frank Procopio

I have over 50 units now and I can tell you the most difficult one to ever rent out was my first personal residence when I upgraded. I had such emotional ties to it that it became a problem for me personally. I ended up selling it and cashing out. Just couldn't watch tenants do damage to it. Plus if your goal is to invest further that will free up alotnof your dti so that you can invest in properties that will cash flow more 

I would definately consult an attorney

Not a good time to overpay for student housing. The future is still very unclear for all schools. 

Find your local REI meeting

@Kal Seirafi I've never asked for one in over 15 years. I know alot of agents that do though on both sides.

Only targeting one broker would be a mistake as larger multi family deals are typically traded off market. As a broker we appreciate loyalty but understand this. Its our job to provide value and bring you deals. So I would network with multiple brokers that specialize in multi family deals. We can tell if your serious or not, I rarely come right out and ask for a proof of funds 

Would start off slowly and one by one. You dont want to step over dollars to pick up pennies 

Where I am there is a moratorium on all evictions even if we want someone out for lease violations or because we are selling a duplex owner OCC and want to give notice to vacate. But in "normal times" I just give a notice to vacate or lease violations to evict. I have tenants that have not paid since January and there is nothing I can do right now and they know it. I even have tried going old school to pay them to leave 

Upstate NY has some of the better returns in the country. Syracuse and Rochester is where alot of people all over the world chose to park their money. Do some research and check out the markets. If you'd like to connect lmk 

If you are looking for better cash flow then go upstate vs nyc