All Forum Posts by: Jon B.

Delegating snow removal to tenants can set yourself up for a lawsuit if the tenant gets injured while removing snow, or if a prospective tenant is physically disabled and is unable to physically remove the snow themselves.  You can have it in your contract that the tenant is responsible, but most towns will fine the landlord for unshoveled sidewalks.

 I would shy away from Pocono Country Place 100%, and most of everything in the Pocono Mountain West school district.   PCP has long been a haven for gang activity from NY/NJ area, and it reflects in the prices.  And the gangs are also in the school district system.  I know familis that have lived there for over a decade move 10 mins away to Pocono Mountain East or Pleasant Valley school districts just so their kids don't have to attend that school.  A lot of the people that move from NY to the Poconos move for the cheap home prices and the safer communities, but this area is where a lot of the bad seeds that moved seem to congregate.  I have a friend that works law enforcement in this area and the stories I hear are disturbing.

I'm not that familiar with SoCal other than the weather is nice and property is expensive, but you would have to look outwards a bit to where property is cheaper and suck it up when it comes to a commute. A quick dive into MLS listings, I found this duplex (2br each unit) in fair shape. It's priced at $149k. If you finance thru FHA, you can put $5,500 down as a down payment. At a 4.3% interest rate, your mortgage and PMI would be $827/month, or $9,924 a year. Taxes on the property are $1,710 and insurance is $870. All together it will be $12,500 a year, or $1,040 a month. It looks like market rent on a 2br in the area goes for $700/month on a 2br unit, or $8,400. Budget aside 10% for maintenance/repairs, and 10% for vacancy, and if you house hack and live in the 2nd unit for the FHA requirement of 1 year, you will just be paying $480/month to cover the rest of the monthly payment. If you decide to move out after 1 year, it will bring $16,800/year rent, minus 20% for maintenance/vacancy and you're looking at $13,440 and after expenses you will cash flow roughly $1k a year. If you can get $725/unit each, then your cash flow can go to $1,400 a year. If you can cash flow $1,400 a year off of a $5,500 down payment, then that's a 25% cash on cash return... and once the PMI which is $115 comes off, your cash flow will increase $1,380/year.. so in a couple years the property can cash flow you around $230/month; and in a couple years rent goes up another $25/month/unit then your cash flow increased to $270/month.

https://www.redfin.com/CA/Morongo-Valley/49549-Rosella-Dr-92256/home/3803382

@Joe Villeneuve There is a difference between those areas, and the area by the river below the outline area is Newburgh city which is mostly a D area.

@Adam Guiffrida @Juan Reyes  Here is another article about the possible train, and a map of how it would look.  Trump has plans to put $1 trillion into infrastructure, and this plan will cost just 1% of that, so the possibility is somewhat realistic! 

http://www.poconorecord.com/news/20161106/monroe-county-gives-50000-for-train-study

@Tymalaya Thomas I went to Google Maps and searched for "Town of Newburgh and it gave me a outline of what seems like the town part pretty clearly. 

@Nhrai Jordan In 2015, Newburgh had 1 violent crime per 68 people; Bridgeport had 1 violent crime per 148 people. I'm sure there are many B-C areas in Newburgh, but I'm also sure there are many D-F neighborhoods as well which will draw people away.  

@Tymalaya Thomas I know the town part is very much different from the city part; as a long-time resident can you share what parts are the town part?

@Tymalaya Thomas Newburgh is statistically one of the most dangerous and violent cities in America. There are only a handful of towns/cities in America where you are more likely to be a victim of a violent crime. This data is backed by the Uniform Crime Report by the FBI which is a yearly compilation of crime data based off local police departments.

@Jeff B. My job requires me to reside in NYC, Nassau/Suffolk, Orange, Rockland, Westchester, or Putnam counties.

@Joe Villeneuve I want to do my first investment an FHA multi-unit which would require me to reside in the property for 1 year. Afterwards, my goal would to invest out of state.

@Nhrai Jordan Newburgh is one of the most dangerous towns in the country, and in infused heavily with gang activity.  I would put it right up there with inner-city Detroit and Baltimore.  Not sure who would want to live around that.