All Forum Posts by: Calvin Thomas

If you cannot dedicate the time needed to run the investments, hire a reputable property manager. Or, you can buy a REIT. Don't invest in these LP deals. Unless you really know what you are doing, you can lose your shirt.

Enjoy your humble pie then.

Perhaps I am wrong from the news clippings.  Are they incorrect?  Are there vibrant businesses and jobs that the newspapers are not reporting on correctly? Since your profile states you are from or in Youngstown, please provide your honest opinion of the area.

Also, if it's in a handful of cities, Albany, Kingston, Rochester, etc.; they have Jus Cause eviction protections. So, unless they seriously violate the lease, you will be forced to renew the lease. Remember, you not only have to serve them notice, but you have to serve DSS the notice as well. It's best to get a local attorney's advice on this; no strangers.

You are mostly correct.  People see on the TV shows how easy it looks to jump into real estate. It's not easy, it's quite hard.  Ask any property manager who's taken over a building or two from a self-service landlord.

There are two things one needs to get into real estate investing.  One, capital, and a lot of it.  Two, common sense.  Sadly, most go into real estate without either.

The best teacher is experience. I always recommend to anyone start with a duplex, manage it from there and then grow.  Hands on experience is what's needed.  Mistakes are your best teachers in life.

 Pretty sure one can just Google Youngstown Ohio and know that the place is crumbin' down (get it?).

Any investor looks for places which have a bright future, not one's where their downtown is closed due to crumbling and unsafe buildings.

https://www.wkbn.com/news/local-news/gas-explosion-in-youngs...

https://www.economist.com/united-states/2022/03/12/what-buck...

https://ysu.edu/center-working-class-studies/renaissance-who...

https://www.propublica.org/article/these-companies-got-milli...

As Bones would say, it's dead Jim.  Don't blame me, I didn't kill it, it's been dead for a while.. 

 Perhaps, but they are starting to take a page out of NYC in terms of residency requirements.

https://www.steadily.com/blog/airbnb-short-term-rental-laws-...

Maybe true, but horrible tenancy laws though.

 Don't invest in to dumps.  This is not 1803, and Youngstown Ohio is past its prime. Just listen to the song Youngstown by Bruce Springsteen.  

First off, you politely say to the tenant, I treat everyone with respect and, and I expect the same from the people I am talking to. Next, if the AC is broken, no problem. You just install window units until the central AC is fixed.

Done and done. No need to get into a pissing match with her. Also, Adam is right, never threaten or tell a tenant you will not be renewing the lease. It may be your house, but it's their home. Should, at that time, you opt not to renew, then serve the proper papers and get on with life.