All Forum Posts by: Harold Valencia

I use Landlordy 2 for my tenant management,  I believe I paid $100 for it, but its a one time deal, not yearly.  I also use Stessa which is free.  Between the two, you pretty much have everything you need. 

I had applied about a week ago for the PPP loan, I own ten doors in 7 properties, each property is under a separate LLC of which I am the sole proprietor. I received an email today stating that if I had no "payroll", I did not qualify for the loan. I just applied for the EIDL, let's see what happens. BTW, half of my tenants didn't pay Aprils rent, I don't see any of them paying the next few months. The government really screwed landlords by telling tenants that basically didn't have to pay rent for 90 days.

I have ten doors, three paid in full, two paid partial (little more then half the rent) five did not pay at all.  Im in NJ, we've been heavily hit with the closings due to the virus.

@Sam Cherry in a perfect world, that would be or would have been the perfect solution to us Landlords and tenants. A win win for both, unfortunately it's the government that's dealing with this, where common sense is not so common.  BTW, i'm politically neutral, to me both parties suck!

Im also finishing fix and flip in Staten Island NY that I was scheduled to put on the market at the beginning of this month.  I will wait and see what's going to go on.

@Doron Rice I watched a webinar yesterday by Otteau Group, He basically said that for the next couple of months the RE market is pretty much going to be dead, especially here in the North East.  Basically recommended to wait it out a couple of months before putting anything on the market, it's he's opinion and it makes sense to me.

@Eli Gur The markets has definitely improved in just the past year or so. The rents have skyrocketed, lots of new construction and high end buildings being built. Rent in those 3bed 2bath apts. go for $2,300/month. I’ve also seen renovated properties around the 1&9 area and the port also. One issue now is low inventory, lots of people coming over from NY to invest and are causing the property values to increase. Not sure how much more the market is going to go up before it “corrects itself” again. Do your due diligence and if the numbers work for you, go for it.

@Bill Crow I did read it, read it twice.  Here in NJ I have to give "good cause" for non renewal.  (ie. owner is occupying unit for at least six  months).  The Eviction law states that the landlord "cannot refuse to renew lease".  NJ is a liberal State, the laws protect the tenants more then they protect the owners.