All Forum Posts by: Luz Espiritusanto

Hello All: I hope you are well. I wanted to invite you to a new Meetup group for real estate investors, brokers, lawyers, etc in the Rochester, Area: http://www.meetup.com/Rochester-Real-Estate-Networking-Club-Meetup/. Please join us!

Hello All: I wanted to let you know that the Meetup group is all set: http://www.meetup.com/Rochester-Real-Estate-Networ...

please join us there! thanks!

Hello Taylor: I have broad experience in dealing with tenants that get DSS. I think the PROS are that you get the rent sent directly to you. Most of our tenants with DSS get their rents paid in full- the properties are in less desirable rental areas. 

Once you are set up as a vendor with the Department of Social Services and as long as the landlord statements for your tenants get processed in a timely manner- you shouldn't have much problem. CONS- DSS can take a while to process landlord statements so your tenant may fall behind during these times. It could be a headache for some landlords- we are so used to the process its second nature to us. It all boils down to the type of tenant- hence why when we place one; even if they're DSS recipients we thoroughly screen them. We ask for at least three references from previous landlords to make sure they pay on time and have not caused significant damages to the houses prior to moving. Again, it depends on the tenant you encounter.

Thank you all for your posts- very much appreciated. @ Shannon Sadik- yeah, I have heard about FFREIA- and although I have not personally attended any meetings- I have heard good things about them. However, I think it would be a great idea for fresh/energetic group to emerge. The purpose of this group would be to help connect real estate investors to the right professionals in order to grow their business. At our events, real estate professionals of diverse backgrounds will be able to network and exchange ideas, resources and skills that compliment each others businesses. Whether you are a real estate investor, broker, title agent, hard money lender, accountant or attorney, we will help facilitate introductions to the right people to increase your referrals. We would meet in a format that is more conducive to deals being done and all our members get an opportunity to share their business knowledge with the community members. I will be sending out an invite to join to those interested. Thank you for your suggestions! keep them coming!

Hello! anyone interested in starting/joining a fresh and energetic real estate Meetup group in the Rochester Area (and surrounding counties) ? A group to connect and help professionals build a personal network with their peers in the community. Members would include beginner, seasoned, full, and part-time investors, accountants and attorneys, real estate agents and brokers, contractors, mortgage lenders, property appraisers and inspectors, property managers, and renovation specialists — people looking to enjoy the many benefits of the real estate industry. Let me know your thoughts! 

Hello all: I hope you are well. There are indeed many property managers in the Rochester, NY area. I can't stress it enough- do your research! I suggest you interview at least 3 property management companies throughly before making a decision. There are many so called "property management companies" that have put many investors in bankruptcy or close to it due to mismanagement of their properties- so I highly suggest you do your due diligence. 

Welcome to BP Alan! great place to connect and learn all there is about real estate. 

Hello Roy- I suggest your friend interviews at least 3 property management companies before making a decision. I work at a property management myself (True Blue Realty Group) and I always tell our prospective clients to do their due diligence- whether they decide to come on board with us or not. We even send them a list of questions they need to ask before hiring one. There are a lot of so called "property managers" out there that do not deliver - so doing some research is of upmost importance. 

Hey Joshua- check out the Analyze tab- use the "Rental Properties" Calculator. It's great tool where you can input the repairs and it will calculate ROI. It's awesome!