All Forum Posts by: Cynthia Meyer

I'm a financial planner who works with real estate investors - we have a client who plans to renovate a Clinton Hill (Brooklyn) property that has been in his family for generations into a multifamily rental. He needs referrals to mortgage brokers for construction to permanent lending in NY. The client is in the early planning stages, hiring an architect now. Traditional lender is most appropriate (not hard money). Please share your ideas! 

I am helping a client look for a Realtor in Portland, OR, who works with clients on small to medium-sized apartment building purchases (20-50 doors). This is for direct purchase, not syndication. Please have experience with properties that require commercial loans. 

Drop your suggestions in this thread.

Thanks!

Does anyone have a recommendation for a business attorney in the Richmond area? Thanks!

@Hunter Terryn thank you!

Hi all. A client of mine is planning to make an offer on a 30-unit property in Little Rock. Does anyone have a property manager recommendation? The client is located in another state, so will need someone with a good team in place. The property management division of a real estate company may make sense here. 

@Scott T. Thank you. It's been a while since I posted this. Yes, I did contact @Mark Ainley. I was impressed! We connected with several Chicago area Section 8 managers and the clients chose his firm to help them.

I'm helping a client who has some Section 8 properties in Chicago vet property managers. Any suggestions or references? Thanks!

@David M., @Ellie Narie an umbrella liability policy covers someone beyond the liability limits in the landlord policy. If there were a judgment against the property owner the insurance liability coverage would pay up to the limit, then the umbrella policy would kick in up to that limit. It is typically sold in increments of $1 mil and is inexpensive. It's an important component of risk management for rental property owners.

Do you have kids? NJ has great public schools in many towns. What is "commutable" is a matter of opinion. There are trains that go to Penn Station from many parts of the state but it can take 90+ minutes. Property taxes are very high - especially closer to the city. I agree with @Jonathan Greene that you are unlikely to hit the "1 percent rule" on rents.

An umbrella liability policy adds an extra layer of liability protection above your landlord insurance. Do you own your property in an LLC? FYI, your future income can be attached if there is a judgment against you, not just your current assets.