All Forum Posts by: Joe Guz

my tennant has got the gas turned off from non payment, has not paid rent, it is 5 degrees today and I need to get the gas turned on but I wont do it while he is in there...please help...this kid is a total scum and he tricked me big time---All the other tennants say he is doing drugs up there, and I just need him out---What do I do?????

ok...just talkedto the lawyer...It is illegal to have the owner hold a second in NY, unless you get a non-comforming lender. I cant find a lender who does this....does anyone know of any?

he did not want to be involved in a transaction in which the seller was holding a 2nd...

is this illegal, my lawyer didnt want to do it. My mortgage broker said to just get a written contract w/seller and get 2nd at closing.

i am looking into a flip in a very trendy area of town where new lofts are being built...its a huge house 5k sq ft, and a storefront-mix use . i can get the property for 85k and it needs 35k in renovations. it has three 1200sq ft apts, and a small storefront. what would be the best loan program if I wanted as little $$ down, and with all repair cost included in the loan. I am not going to sell thuis house as it will bring in 2400 a month when done, so what is my best option. I am new to this, I only usually invest in rental properties--prop. is in ny, mid score 670

i am looking into a flip in a very trendy area of town where new lofts are being built...its a huge house 5k sq ft, and a storefront(mix use). i can get the property for 85k and it needs 35k in renovations. it has three 1200sq ft apts, and a small storefront. what would be the best loan program if I wanted as little $$ down(<10%), and with all repair cost included in the loan. I am not going to sell this house as it will bring in 2400 a month when done, so what is my best option. I am new to this, I only usually invest in rental properties--also, its in NY, and my mid score is 670...i would rather not go hard money, as I would love to get a 30yr fixed

HELP NEEDED!!!c'mon, nobody on here has any info for me?

i am looking into a flip in a very trendy area of town where new lofts are being built...its a huge house 5k sq ft, and a storefront. i can get the property for 85k and it needs 35k in renovations. it has three 1200sq ft apts, and a small storefront. what would be the best loan program if I wanted as little $$ down, and with all repair cost included in the loan. I am not going to sell thuis house as it will bring in 2400 a month when done, so what is my best option. I am new to this, I only usually invest in rental properties

Originally posted by "Tyril":

hey Big where abouts you in Buffalo? I live here too.

i just moved on Jewett Holmwood in Orchard Park---you?

Originally posted by "PropertyMaster":

I would just watch out for liability with the utilities. I have never heard of anyone doing it. It would be embarassing to have to say to the tenants, "Sorry I can't provide your internet and phone anymore, here's some money back." Among other things, they'd be out of service for a couple of days until they got their own.

Now I have a question for you: how are things in Buffalo? I'm not planning to put money there, but I was astounded at how cheap some rentals are in that area. I mean, I know Buffalo has had problems, but under $20K for a two-family? What are those places like?

Those 20k houses are in BAD areas...I wouldnt waste my time, for 60k you can sometimes find a place near one of our many universities and I get roughly 1300 a month rental out of them---1300 a month w/a $600 mortgage---not bad huh? Anyway, were doing some good thingIs in Buffalo now w/our waterfront, bringing in some big businesses, This city isnt as bad off as everyone thinks.