All Forum Posts by: Lear R.

I am a Airbnb Investor looking for an attractive furnished room to rent in New York. My budget is $700.00 to $900.00 per month. I am looking to lease from owners who will have no problem with me leasing it as an Airbnb during the lease time. The locations I'm looking for is Bedstuy, Williamsburg, Brooklyn Hieghts, Crown Hieghts, and Ditmas Park. Chelsea, Mid-Town, the Upper East or Upper West side is ok as well.

This perspective did help, thanks.

Hi, I currently have a relationship with a property management company that has implemented a new accounting practice, that basically puts previous tenants accounts recievables to the property management company directly on the books of the property owners in the form of an expense. To clarify I'll provide a real world example.

1. Tenant A moves out with over $1K in tenant specific expenses.

2. The property management company incurrs the costs associated with the tenant leaving and acts to make property available for rent to new tenant

3. This creates an account recievable due to the property management company from tenant.

4. The property management company takes that account recievable and places it as an expense against owners earnings until the previous tenant pays or the property management company addresses the account recievable with the tenants deposit.

5. If the previous tenants costs exceed the deposit, the account recievable stays as an expense against the property owners rent revenue until the tenant settles up.

To me this is very odd, and I never experienced it until this month, does anyones property management company do their book keeping this way?

Thank you Ezekiel,  I am building up to 10 I currently have 4, and it cost 600.00 bucks. Also does landlord insurance cover for vacancy? I don't have landlord insurance I always thought it was a myth, and a lot of insurance companies don't carry it. Who do you recommend?

Thats a good one, how did you get the private money, was it with someone you had a longstanding relationship with? Also what were the terms of the deal for the private money lender, which made it something he had to do?

I had a Real Estate Investor advise me to put my properties into my LLC, and told me why, but I have forgotten. What are some reasons you move your property from your name into the name of your LLC? I was successful in doing so, but when I was meeting with an attorney and he asked me why I did this, I had no answer.

I have to agree with Eric, I bought my first VA property as an E-4, in 2006 it only took $636.00 out of pocket to cover appraisals and odd fees since the original owner had passed and it had a tricky title. I bought it for 68K its currently valued at 170K. I also used the VA loan to purchase a newly built property for 155K, which came with free washer and dryer and 55 inch tv, it cash flowed for $102, when I did a military move from it six years ago. I also did a house hack buying a duplex, which cashflows as well. These strategies work I'm usually looking forward to my next PCS move simply to see if I can acquire a property. Thanks Eric great article.

Hi, I have an investment SFH, that earns 1150 per month in rent, (valued at 170k) that I am attempting to refinance and get 30k out for debt consolidation. I've currently been offered only 23K at closing, refinancing at 75 LTV, at 6.125 percent interest rate. Also the T*rds wanted me to buy down that crappy rate at 1 point, and pay $1095.00 per month.

I'm sure someone can beat this deal easily. All the work is done, I have recent credit reports (I have a lot of inquiries since I'm always looking for funding for deals) my FICOs are 662, 668, and 699 as of today. I'd like to keep my monthly payments below $900.00 per month. Any financing people who can turn this around?

I will be selling my house in Georgetown, TX and I want to 1031 exchange up to a multi unit. I need a Certified Intermediary to work with me on this process. The house will go on the market the week of May 10th, it will be competitively priced and may sell very quickly. Please give me a call and contracting information.

Hi I'm a Real Estate Investor, that needs to show a Rent to Own property in Columbus, GA. The current tenant will be leaving May 30th and I need to have a new tenant by then. I will need the Real Estate Agent to coordinate with existing tenant to show the property, and to guide the prospective tenant to my online screening. Please contact me with at least two references or links with reviews of your past performance.