All Forum Posts by: Wilbert Gonzalez

Hi fellow investors,

I'm in search of an investor friendly RE attorney in Westchester County NY. I've been having a hard time finding someone who understands how we creatively put deals together.

If anyone has an investor friendly RE attorney in Westchester County, I would greatly appreciate the referral. Thank you in advance for the consideration.

Thank you @Nicole Marshall and @Nathan Gesner for the responses. This property is in close proximity to Yale University, Albertus Magnus College, and Quinnipiac University. However, in my opinion a student is a student and I remember my attitude when I was an undergrad. I probably wouldn't have rented to myself. You're right Nathan, it will most likely be students with no rental history. I'm experienced in screening tenants, having co-signers, etc. But I've never rented a rooming house so Nicole you raised the same questions I had in mind. What happens to damage in common areas? How does one go about applying a portion of the security deposit to those damages? Do you take an equal share from everyone's deposit to handle the damage and then let them figure it out? I don't intent on becoming an investigator just to figure out who has done what to the property. I'd prefer some kind of pool to draw from if and when the damage is caused. I will admit I haven't sought legal advice on the matter yet. If I do get concrete answers I will share. Thanks again for your responses. 

I'm considering renting a property per room in order to maximize the rental income. It's a large single family house, 5 bedrooms, 2 full baths, kitchen on main level and in basement. However, I've never done a rooming house before and wanted to know the best way to handle security deposits and how they may be applied to damages in the future. Thank you in advance for your responses.

I'm considering renting a property per room in order to maximize the rental income. It's a large single family house, 5 bedrooms, 2 full baths, kitchen on main level and in basement. However, I've never done a rooming house before and wanted to know the best way to handle security deposits and how they may be applied to damages in the future. I live in CT. Thank you in advance for your responses.