All Forum Posts by: Mohammed Rahman

Hey @Raif Harris

To get a solid sense of occupancy rates, look into tools like AirDNA or Mashvisor, which offer specific short-term rental data, including occupancy and average daily rates for different areas.

Hey @Max G. - guessing you're a newly licensed agent, congrats!

I'm a broker based in NYC, and part of multiple MLS's.

You're correct in assuming most agents work through showingtime and/or StreetEasy. I am not a part of REBNY' however I know that REBNY as a listing service known as RLS.

Although I can confirm, that whenever I work Manhattan transactions - it's through Street Easy (aka Zillow). 

It sounds backwards I know, but welcome to NYC where real estate politics apparently matter more lol. 

There's REBNY's RLS, OneKey MLS (Long Island + Queens + Westchester + more northern parts), there's the Brooklyn MLS, Staten Island MLS, etc.

I do most of my business through OneKey as its the most "uniform" one out of all of them. 

Yes you can post listings from different areas into OneKey and they will still show up on public sites like Zillow/Realtor/etc. (however it may not show up on Street Easy directly - for which you would have to have your own StreetEasy account). 

@Cory Melious

Given the clear lease addendum and initialed acknowledgment of the rules, you’re in a strong position to recoup at least part of the repair costs from these tenants.

A good approach here might be to present them with a shared cost breakdown and show the direct consequences of disregarding the septic guidelines.

@William Coet

The big players definitely approach these markets differently from individual investors. Even in landlord-unfriendly cities like NYC and San Francisco, major investors are drawn by strong demand, high population density, and historically stable property appreciation.

For them, the upside (rent growth and asset value) often outweighs the operational headaches tied to local regulations.

Also, these larger firms often have the resources and legal teams to handle tenant issues that smaller investors might find challenging. 

For them, it’s all about scaling within high-demand markets—they’re playing a long game, knowing demand will stay strong in cities where people want to live. It’s a bit of “high risk, high reward” thinking.

@Matt Weddon

Legally, you’re covered as long as you stick to objective, non-discriminatory reasons for rejecting someone (things like personality or ‘vibes’ don’t cut it in Fair Housing law).

However, if you've picked up on signs of potentially problematic behavior during your interactions, you might be able to highlight them by adding “good tenant conduct” to your list of standards. 

Just be sure it’s documented and consistently applied to avoid any Fair Housing pitfalls.

Another option is to stick with strictly quantifiable criteria—credit score, income ratio, etc.—and prioritize applicants who meet the criteria but also have a solid, reliable rental history. The best tip? Trust your gut and back it up with clear, written standards. Good luck!

Hang tight @Kenji Tominaga  - hopefully we find a solution soon enough! 

@Vince Nguyen

Vince, sounds like a solid opportunity with that property! 

For creative financing, one option could be to approach the seller about a seller-financed deal. 

Given that the house is paid off but has $27K in back taxes, you could offer to cover those taxes upfront in exchange for favorable terms on the remaining balance—like low (or no) down payment, and small monthly payments.

You could also negotiate for a subject-to deal where you take over the property subject to the taxes, while still securing control of the property for your BRRRR strategy. In this case, you'd likely want to work with a real estate attorney to make sure everything's clean and the title is transferred properly.

Good luck!

@Rochelle Gerber

What you're experiencing is pretty standard with hard money lenders asking for 20% down, especially in today’s market where lenders are cautious. 

Hard money is typically all about the deal, so if you're bringing in 20% for purchase and covering rehab, you’ll need to assess if the deal can still make sense after those upfront costs.

One potential workaround is to look for lenders who might offer 100% rehab financing based on the ARV, or you could consider bringing in a partner to cover some of that 20%.

Also, depending on your network from BPCON, see if anyone has connections to private lenders willing to do higher leverage, especially for strong deals like yours with a solid ARV.

@Matt Weddon

Congrats on listing your first rental—that’s a big step. When it comes to rejecting an applicant, you're right in that you must stay on the right side of Fair Housing laws. 

The key here is having objective, documented criteria that you can point to if needed. You’re not required to rent to someone just because they look great on paper, but you should ensure that your reasons for declining them are grounded in business-related concerns (e.g., concerns over rental history or ability to care for the property, if documented).

A good practice is to follow a consistent screening process for all applicants. 

This way, if someone feels rejected unfairly, you can show that your decision wasn’t based on any illegal discrimination, but on consistent standards applied to everyone.

Alternatively... you could just ghost applicants but that's not always everyone's style lol 

Welcome aboard