All Forum Posts by: Brandon Raeburn

Hey, I'm new to real estate investing but spent many years watching my dad and uncles do many house flips, brrr's, and rent holds. However, the events that always stood out to me was how terrible some of the tenants could act and treat the property. Also, to get disruptive and non paying tenants evicted in NYC took almost a year. My first property will be nothing less than a 4-plex or Multi-family rental property. I'm leaning more towards using the Airbnb because of the more transient nature (so I won't need to deal with bothersome tenants for extended periods of time) than a traditional rental. Will I lose more money on a monthly income by doing this? Will I average more ROI? Is there a different process for filling taxes using Airbnb as income? Are there tax credits for transient rentals? Will I need to provide food for the guest? Please all and any insight on this matter will be appreciated.

You must consult a lawyer within in your state immediately. 

1. Matt hit it on the head, you needed to send the notice in writing. Though this may be a state specific action which is why I said contact a lawyer.

2. Because of not sending the written notice you may be liable to pay the storage fees for improper procedure.

3. I am not a lawyer, but pretty sure if the ex tenant refuses to pay the storage and files suit, you'll lose.

4. You could tell the ex tenant to pay the storage fees to get there property and see what transpires next. 

Good luck

My Dade is the best handyman in the Bronx. He'll fix anything from plumbing, tiles, carpentry, masonry, concrete, and auto. Not to sound to salesmany but he's jack of all trades, contact me for info.

PMI is private mortgage insurance, which is a way lenders get a guarantee that you pay back the mortgage. You need it when your down payment is less than 20℅ of a conventional loan.

Minimum payments interest; I believe you're referring to making the minimum payment on your credit cards. Which may add a higher interest percentage but you'll need to reword the question so we can better help you.

check local tax assessor, check with local water company, or just go in and ask the property management. They'll tell you who they work for or you can find a commercial RE broker and have them do it. Hope that helps

as for becoming a Realtor, that's actually different from a licensed real estate salesperson. You could use the GI Bill or Voc-rehab to pay for an online course for the real estate salesperson license (I believe it's a 63hr class) you finish on your own time. Then you take a proctored exam, pass that and take the state exam. After that your a real estate agent and also exempt for the continued education requirements because you're active duty. A Realtor is a member of a club of real estate professionals that pay dues and lobby Congress. You don't need to be Realtor unless you're looking for networking opportunities.

👇👇👇

Hey Cintia, 

I'm a Veteran too and you don't need much money to get started in real estate investing because we get a VA loan which is guaranteed by the govt. 0percent down 3.5 interest up to $424k in most areas (I believe in Jacksonville anyway), $636k for bigger markets (NYC, LA, etc). Unlike most mortgages we don't need PMI or mortgage insurance, and are exempt from property tax. All you need is about a 620 credit score and have a stable income for atleast a year. Any bank, even your personal bank where your les is deposited every 1st and 15th can give you the loan. But you can only use one at a time, but you can split it between properties. Ex: you can have 2 separate properties in 2 different market areas that equal up to $424k. Property 1:$200k property 2: $240k. Disclaimer, there's also a weird situation with some lenders that'll allow you to borrow past the max of $424k or $636k but you'd need to pay 20percent of the overage. This can vary by lender but you need to know you can atleast ask about purchasing over the maximum. Also if you need assistance with cleaning up your credit call Veterans United Lighthouse program and they have a free specialist who'll monitor and give you a financial plan for free, cause we're are Veterans. If you have anymore questions or know any other Veterans please don't hesitate reach out to me.

Hi Anastasia,

Great job organizing this unfortunately I'll be out of town on that day. Do you have an idea when the next event will be held? 

@cassidyburns  great job, great story and don't ever quit. You give me hope God bless.