All Forum Posts by: Joseph Catalano

I have ink.  All I care about as a property owner is whether or not they meet my financial qualifications.  As a Criminal Defense Attorney I run into a great number of ------- both with and without ink.

It comes down to do they qualify!!!

Happy Birthday @Joshua Dorkin!!  You do not look a day over 39!!

PS

Thank You for all you do for us!!

I would first check with your state and or local  Tennant Landlord laws.  Some states and even cities have regulations regarding tenants, such as landlords having to accept the first qualified applicant.  Which means you do not get to pick and choose through all qualified applicants.

No.  In fact we are in the process of bidding on a property in the Houston area.

It sounds like you have a great set of systems in place. Maybe consider using a VA to take all the calls regarding problems then that VA just contacts the appropriate vendors using the outline you are already using.

No.  Cash is KING.  If something goes sideways, as it always does, you are then losing money.  I have always been told breaking even is not different losing money.

If you have a cash flow you are able to fix problems without spending your own money.

I personally do not consider mutli family 2-4 units nor do the bank for the most part. If you would consider a minimum of 5 units you will be able to get financing much easier, due to the fact that 5 plus units fall under commercail financing. We have found it much easier to purchase properties using commercial financing ranther than FHA financing, especially when you may be considering purchasing multiple properties. Commercial financing is based more upon the cash flow of the property rather than the credit of the applicant, bank look to see if the property you are purchasing can cover the cost of the expenses, ie mortgage and taxes.

Call an attorney is the best advice so it is done the proper way.

That depends on the nature of the correspondence.  Such as yesterday I texted a tennant to remind her that the plumber was going to be in the driveway all day while he worked in the basement.  However, today on a different property we sent out a letter to tennant to remind them not to pour cooking grease down the drain because it clogs the pipes and that is why their drains have been draining slow.

So the more important the correspendence the more of a paper trial you need.

That is my home town.  I will keep an eye out. My brother still lives that and does my recon, however he is in Singapore for another two week.