All Forum Posts by: Lashawn McCauley

@Scott Smith Thank you for explaining how to use the traditional llc. Would you use the traditional llc on your leases with your tenants? 

Also, I'm interested in creating either a holding company LLC which would own a series llc and the traditional llc as a way to compartmentalize my real estate a separate the risk. How does this strategy compares to creating a trust and having it as the owner of record for all series and traditional llc's instead of the llc holding company?

Choosing a better location in Newark. 

What is the group's Facebook name so I can view the event through Facebook live?

@Michelle Ross Is this still available? 

Thanks for the post. I sent you a text message. 

Please add me to your list [email protected] 

@Daniel Gonzalez I have a rental 3 family property in Essex County NJ.  As @Charles Joshua Stallings stated you will need to send a certified mailed letter to the family 60 days before you want them to leave. Make sure to track the letter. This was my eviction experience for a tenant whom I wanted to leave by the end of their lease. 

@Radaisy Ramirez  I purchased in January of this year in the South Ward on 11th street with a 4% cap rate with a positive cash flow. The rent rates will continue to increase due to the amount of people from NYC looking for affordable places to live that is within a good distance. @Amir Pinnix The property needed some cosmetic changes such as remove the carpeting and added flooring and paint. I also i gave new tenants by adding a refrigerator (which is not common in Newark because tenants purchase their own). Next I will repaint the hallway to give it a better appeal. 

Landlords have used this strategy. Yes Section 8 provides a consistent dependable cash flow, however you must make sure the apartment can pass the Section 8 inspection and sometimes they can vary based on the inspector and you have still screen candidates properly. 

You can have someone whom doesn't work and section 8 pays the full amount of the rent each month however the con is they might be in your apartment all day. 

You can have someone considered "working Section 8" which means the tenant pays a portion of the rent. 

I purchased my first multi family investment property in Newark earlier this year and as stated earlier Newark is really based on the block you purchase because some have a higher amount of vacant lots or vacant homes. Local people from Newark are apprehensive of renting in the South Ward, however it is very close to Newark's Penn station and easier for people moving from NYC to travel to. Weequahic looks nice and is closer to Newark airport. If you want to invest in a higher income area you can look into the Iron bound section.