All Forum Posts by: Chris Rizzo

Kelsey First of all house hacking is a wonderful start in a lot of ways. It was actually my second move 9 years ago. I learned A LOT living in a simple 2 family for example the importance of good tenant relations. Timing the market is one facet of investing but not everything. Money is cheap to borrow right now. First i would set up your framework for how you want to live, ex multiple tenants or 1 on 1. 

Next if the deal works out numbers wise, its a good idea to move forward. Waiting to time the market is a tough game. be shrewd. I your looking for something move in ready you will pay top dollar right now but save on the interest rate side. If you wait you will save on the purchase price. For your first I would move forward and lock in a SUPER low interest rate now because its likely property you will have for quite a few years. 

Rates are supposed to stay low according to the FED, that will keep prices high. 

Look for a stable township with good taxes and schools, you'll be glad you moved forward!

Angel Sanchez, I have been exploring that option as well. My only concern would be a potential lawsuit if one of the temps gets hurt? It’s still on the table, just thinking about how best to set things up so I don’t increase my legal exposure and I save money.

You mentioned being in a similar boat, follow up with me in a few months I’ll let you know where I’m at! 

My regards 

Chris

I have been considering starting my own construction company with the hope of being able to hire individuals directly pay them a basic hourly rate and get my construction accomplished and save money at the same time.

Has anyone ever started an LLC and obtained a basic Workmen's Comp. policy hired some individuals to do tasks during the year, And wind up saving money?

I have about seven rental units and I wind up paying a small fortune to my handyman. I do not have the ability to do it all myself however if I was able to pay someone to for example help me paint a unit when someone moves out and do some basic construction I know I could save money

Everyone’s feedback is always wonderful thank you and advance!

Chris

I’m sure many of my fellow investors have thought about this along the way. I have seven rental units, and I pay a small fortune for repairs painting etc. Which got me to thinking about saving some of that money.

Has anyone thought of and/ or researched Starting their own LLC, ABC construction LLC, and getting a basic Workmen's comp policy?

I have been considering how this would be structured if it’s worth it or not so on and so forth

If anyone has done anything similar please let me know!

Thank you all very much in advance!

Chris

The Home Depot one is a Great suggestion! 

I’ve tried social media, but sometimes you get someone who is too close and then you have to blow them off if their prices are high.

Thank you!

I’m a smaller landlord in CT. I have two 3 family properties at the moment. 

I run into trouble finding people who are good with their hands to fix things.

I currently have someone but he charges a lot.

Does anyone have any tricks for finding good workers who don’t charge too much? 

Thanks in advance

Chris

I recently requested some verification of rents while considering a property to purchase. With in hours I had scanned images of money orders all from the same company (money gram). All on the 3rd of the month for all 3 units. Ok obviously this landlord has something smart going on! As most tenants in this city pay in cash I’m wondering how he pulls this off? Does anyone else have something streamlined like this? Do you have some kind of master account with money gram/western union ? I’d LOVE to streamline in this manner and I’m sure others would as well. Please share with everyone!

Thanks to all!

Chris