All Forum Posts by: Peter Assaad

Thanks for the heads up. Much appreciated and I understand your train of thought.

I have a tenant moving out today in a property where I inherited her as a tenant when I bought the place over summer. She claims that there is an old tv in the closet that was there when she moved in. I cannot verify this. Do I request that she make sure all in the apartment is removed? What are her rights vs mine in this situation? Also, if she doesn't move it do I hold on to part of her deposit to have it removed? Thanks as always guys.

Would be down to form a cuse group if people are interested.

Eric, Thanks for the detailed analysis. I do appreciate all the responses. I'm in a situation where fortunately I can afford something in the city but yes, I do see it somewhat of a liability. After reading your post, however, I'm reconsidering potentially picking something up. I've been trying to cut out the amount of cash I spend allowing nyc to baby me (delivery dinner) and trying to push some of that into a down payment for another investment over numerous months/years. It's about the little things trying to grow the business. Back to dreaming about retirement!

Currently live in nyc. Apartment is not cheap- but coming up with 20% Down (if not more) for a pad in nyc is expensive. Currently buying SFHs And MFHs elsewhere while trying to minimize spending in nyc. People tell me I'm stupid to be paying rent but it seems to make sense as I continue to grow my retirement portfolio. Thoughts?

Very detailed write up. How did you find a contractor you liked? Maybe you can go through that step. Also, how much work did you physically do yourself? Strong work overall!

While so cal is all well and good and where I grew up....'you're banking on speculation to grow. I'm trying to find smaller markets to buy homes and get at least 1% back of the total cost of the property. This sets me up without need for appreciation. While appreciation is nice... it's not guaranteed. Here's how I see it- let's say you have a million dollars. 10 homes for 100k each rent for 1200 each and you're pulling in 12000 a month 1 home for a mil renting for what... 4k? First option gets you 144k a year 2nd option gets you 48k Now take this out a few years... What you're banking on in a speculative play you can make with just 1-2 years of buy and holds. Furthermore- these properties will continue to generate income down the road. So, I see that as an easier route which doesn't burn you If you can cover mortgages. On the 2nd option, your monthly rent may not cover mortgage. But... that's just my take. Lot of smart people on here that would argue against it. In the end- remember to have fun and treat others kindly. Peace

It would be hard for me to advise to not go pursue an education. That said, I think you're being smart by asking your options. I do not think many people take into consideration the cost to go to college and end up racking up a 250k loan and find a job making 50k only to pay that off. Almost seems like investing and generating positive cash flow should be the default track. Again, hard for me to speak against an education given my own personal life's written history, but I think it's great that you're actually thinking about your options and what would work best for YOU. Good luck :) P

+1 for roofer interest in cuse

Looking at a potential vacation spot to invest in- comes w ~ 50 acres. Price approx 500k. Taxes about 15k a year bc of land mass. What do people do w that much property to offset costs? Farming it would be possible... Thoughts? Happy Saturday, everyone.