All Forum Posts by: Joshua Diaz

James Masotti I agree with you on that. But if that is not convincing enough then consider this: the McDonald’s closed because of was robbed several times. If this business is bought, the same thing will happen to it. The thieves have just found a new target

Tim Smallwood congratulations on the accomplishments! At this rate, you’ll be financially free in no time! If you don’t mind me asking, are you going for just enough cash flow to cover your living expenses with a little extra for cushion?

He has a key for emergencies but otherwise I keep in touch with my tenants and schedule appropriately

I do that now. Still within the state but still a fair distance away by car. I automate everything I can. All issues I can think of can be handled with a phone call. However, I also have a trusted handyman in the area so he would be the one to handle issues like a tenant locking them self out. To put it simply, without a property manager , I would need to have boots on the ground to handle certain things.

Originally posted by @Jay Hinrichs:

Originally posted by @Joshua Diaz:

this is absolutely fantastic.  I will definitely be donating what I can

 Thank you so much we appreciate it lets show our veterans and first responders that US Real Estate investors know how to give back.

 Agreed!

this is absolutely fantastic.  I will definitely be donating what I can

I eventually bought my first one out of NYC but I did start by looking at the Bronx. The first thing I would do is the the certificate of occupancy. Is that house a legal multifamily or did someone just decide to add rooms? I know a lot of people rent out illegal apartments in NYC but I considered that way too much risk to take. (And I wouldn’t feel right about anything that’s considered illegal) Just my thoughts on it

I would think a tenant being difficult with showings is a tenant I would want out. An empty unit without a difficult tenant would get more traffic thus more showings which is a better chance for an interested person. Those are just my thoughts on the matter.

Well I am not a flipper but my rental is about an hour and a half away. (I’m in NYC so I had to go further). Now I’m not worried because o have automated online systems for rent collection, contractors and licensed repair professionals on speed dial, and I have some boots on the ground in the form of family who can lend their knowledge and keep an eye out for me. My first thought to this question is : if I’m worried that it may be too far ,then for me it may be too far. I could never do a flip that far away, IMO. I would lose sleep over it . Hope that helps a little.

Yup. NYC is pretty rough on landlords. But those who adapt can still follow the regulations while still having control of who they rent to.