All Forum Posts by: Samuel S.

Did you try cash for keys? Given what's going on, it may not work but it's worth a try! 

Your lower quote may even be too high. I agree with the comments above... Shop the rates. 

The question is, what are you contributing for him to go in on a deal for 50% of the profits? Is he finding the deal? Analyzing the deal? Funding the deal? Managing the deal? These are primarily questions you'd have to think about if it wasn't your father. 

I assume your father will be way more generous than someone who isn't related to you. I would attach yourself to his hip and learn as much as possible from him. 1st deal...learn every facet of it, and provide some sort of assistance. Ask for nothing back but the education. 

Your father will provide the tools to build your toolbox...which will be instrumental for your success in the near future as you begin your own journey in REI. Good luck!

Partner up with your father on a deal! I'm assuming he's doing it the right way by being able to scale to 30+ units. Have you ever had a conversation with him about being your mentor?!

I don't believe cash for keys is allowed in NYS anymore...

"Unlawful eviction occurs when a landlord evicts or attempts to evict a tenant without a warrant of eviction or other court order. Unlawful evictions are now a misdemeanor punishable by civil penalty fines of $1,000-$10,000 per violation."

@Dylan Szafranski @Eric James It's actually closer to 4.3% in the highest areas of Monroe County (doesn't seem like a large discrepancy, but $2100 on a $300k house [.7%] isn't insignificant).

Take a look at areas within the city of Rochester. That's where we invest. Much lower tax rate, however much different area to invest in compared to the surrounding towns within the county.

Reach out if you have any questions. Good luck!

Sam

Congrats on your efforts to get started, Jordan. Just curious as to your parameters for determining how much "cash flow" you would be left with. What have you factored in to get to that number? I'm assuming you factored in your P&I, Taxes, Vacancy, Maintenance, Capital Expenditures (and maybe PM, unless you're managing the units yourself). I say units, because I'm assuming with $600 cash flow, it's not a SFH or even a small MF. Just want to make sure you did enough research before you dove in! Good luck!

Congrats Cam! Welcome to the club!!! 

Sant, I agree that action needs to be taken. But no trespassing isn't the best way to approach it (IMO). Like I said previously, meeting with a section head at RPD, put up non-breakable lights around the exterior, cameras, cut landscaping low, etc. But I guess the best way to approach it is to not own in that sort of area!

Aqil

Schedule a meeting with the section commander at RPD and discuss if the camera room has a good vantage point of your address. If not, Lynette is spot on with her assessment.

Sant - this isn't Kentucky my friend. Rochester has a higher per capita rate of violent crime than NYC does. They would laugh at a trespass arrest, and be back at it within the hour...

And Dominique... Really?!🤦‍♂️