All Forum Posts by: George Samios

@Drew SygitBecause the property is located in an HOA and they do not allow short term rentals. My strategy change along the way unfortunately so now I am battling the rental market.

Also how do you set up the lease with these insurance companies? is the company listed on the lease? how do protect yourself in this situation? 

Thanks 

Hey Jonathan, 

I just realize I listen to your podcast, thank you for all the value that you give us investors on a daily basis! 

Hi Jonathan,

Thanks for the follow up. So yes I am currently using furnised finder as the property is fully finished so thats why the price is a little higher. But on the platform, I am getting alot of folks who are looking for 3 month stays instead of 6+ so its been quite a challenge. 

Also how are these landlords doing the leg work, do they have a realtor that handles everything with a commission or are they using the furnished finder platform to follow up on leads? How do landlords handle this if they are in an out of state situation?

Hello everyone,

I am looking for a strong realtor who understands the Tampa market and the surrounding areas. I am an investor out of state and I've been trying to market my rental since the summer. I am having difficulties and the vacancy rate is unfortunately hurting my budget. I am looking for a mid to long term tenants , minumum 6 month stays. I get alot of requests for short term stays and temporary housing situations but they are for short term less than 3 months. I am also getting requests from companies who wants to relocate families due to the recent hurricanes. 

Does anybody have experience renting to these companies/agencies that work with insurance on temporary housing? how do you screen a company in this case? any experience on this? or how do you set up the lease?

Overall, I am just looking for a normal tenant situation and get the place rented. Any advice would be greatly appreciated. 

Thanks 

Hi everyone,

I  bought my first property and now trying to pursue a second one. For financing purposes what is more beneficial a refinance or a home equity line of credit too pull the funds out? are the interest rates higher on the home equity loan? 

Thanks

Hello all,

Does anybody know of an experience architect in the NYC area? I am looking into a development project and trying to figure out if under an R4 zoning requirement if I can build 2 commercial units? 

Thanks

@Matthew Porcaro. Under the FHA loan, isn't it required to get mortgage insurance? and isn't your mortgage payment be higher because your putting down less then 20%? In long run, isn't conventional cheaper then FHA as you are putting 20% down and you don't have the mort insurance requirement.

I actually live in NY, what is your recommendation to search properties. NY is very expensive so I am looking out of state across the hudson. Was your first investment in NY? 

Thanks

@Anthony Gayden; thanks for the advice above. I thought with commercial lending, the bank will only look at the projected net income of the property? is that not correct?  I thought conventional loans are minimum 20%? 

Would you able to get a FHA loan just for the first year and then moved out on the property? is that doable?

Hello everyone,

I am looking to invest in my first property but I need some advice on which way to go for the loan. The property will be probably bea multi-family 2 to 3 units and it won't be in my home state. Would I be able to get a commercial loan on the property given I put down 20%? Should I have the property in the LLC? or should take the FHA or conventional route and have good insurance? If I can put less then 20% down with an FHA loan would this make sense? Do I have to make it my primary residence?

Any advice will be greatly appreciated. 

Thanks

@Darren Sager, I understand the process. I've been looking at properties in different areas but not have determined where I would like to invest in.  My question to you is, would the bank even bother if I don't have a deal yet or be under contract to prequalify me? How to recommend to proceed in this case? 

Thanks!