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All Forum Posts by: Joseph Pratt

Joseph Pratt has started 1 posts and replied 15 times.

Post: Amazon HQ2 potential sites being protested.

Joseph PrattPosted
  • Rental Property Investor
  • Corona, CA
  • Posts 18
  • Votes 16
I think it’s gonna be Austin

Post: Living in SoCal. Should I buy around the country and hire PM, y/n

Joseph PrattPosted
  • Rental Property Investor
  • Corona, CA
  • Posts 18
  • Votes 16
Semper Fi brother! I too work for the family business in CA...our family business is RE investing and I purchase out of state properties and have PM companies manage them for me...I stopped acquiring properties 3 years ago when cash flow dried up in many markets...buy a duplex with your VA loan?

Post: Problem tenant, advise please

Joseph PrattPosted
  • Rental Property Investor
  • Corona, CA
  • Posts 18
  • Votes 16
Chris- at the end of a lease agreement, a landlord can raise rents as high as possible (allowable by NY)...otherwise, a 30-day notice to terminate can suffice...don't need cause for that...I'm not a lawyer and this is not legal advice, just an opinion

Post: Anyone out there specializing in under 30k properties?

Joseph PrattPosted
  • Rental Property Investor
  • Corona, CA
  • Posts 18
  • Votes 16
Steer clear of that price point unless you're willing to manage the property yourself. Margins are too slim to cover incidentals. An eviction or capital expenditure i.e. Roof, water heater, or stolen HVAC system can wipe out gains for years

Post: Use PayPal to collect rent?

Joseph PrattPosted
  • Rental Property Investor
  • Corona, CA
  • Posts 18
  • Votes 16
I've been collecting rents for 10+ years and I find Cozy.co very intuitive and user friendly. I use to collect rents physically but found that dangerous and time consuming. Later, I collected rents via snail mail but postage keeps increasing and holidays delay delivery, not to mention, lost money orders are very difficult to dispute...besides, Cozy is free!