All Forum Posts by: Kash Chau

I have a section 8 tenant in a 6 unit building who started dating a registered sex offender, my other tenants are upset because they have little kids and don't feel comfortable with a pedophile near their kids.  I reached out to the tenant's case worker, and she told me not much they can do since he is not living there.  They offender isn't on the lease, and doesn't live there, but recently he has been staying there.  I asked the tenant if he is living with her, she said no, he is just visiting, and stays a night here and there.  What is my best course of action? Should I just ignore the issue, since they are not really breaking any laws?

In am in Hartford, CT.

The church has multiple offers, I was thinking if I sweeten the deal a little bit they would accept my offer. 

I am looking at a 6 unit property owned by a church. They are using one of the units as their office.

I have read that you can’t donate a unit. If I collect fair market rent from the church, and turn around and donate it back to the church. Can that donation be a tax write-off?

The yearly donation would be around $9,000.

Hi,

I have a six unit property that is deeded as two side-by-side residential three family house.  I can get 2 residential loans or one commercial loan.  Interest rate is about the same except the Commercial interest rate gets reset every five years. The terms are 20yrs versus 30yrs for residential.

My question is does it make sense to do one commercial loan instead of having 2 residential loans?

Hi,

I am hoping to gain some insight into what my next steps should be.

Currently I own 3 rental properties 3 units each (all in CT), with good cash flow.  I do most of the management myself.  I have 25% down on each one.  Currently I have three different loans.

My questions are: 

how do I keep growing?  

Should I continue to invest in 3-4 family residential families units?  Or should I start looking into trading up? 

Is it possible for me to roll all my property loans into one?

Is it possible to get a LOC on the properties, then use the credit line to fund the next purchase?

Thank you in advance

@Sai T. Yes a multi family, insurance coverage is 500,000, no umbrella policy, but the property is under a separate LLC.

I had a contract come out and take look.  The small overhang for the landing doesn't have gutters to divert the water away from the steps.  I will have the gutters installed and see how well that works. 

I had the snow cleared, and wooden steps cleared.  During the summer, I painted the steps with paint that had sand mixture in it to provide a little bit better grip.  I also left a bucket of salt and shovel for the tenants, and they have been using them.

I was finally able to speak to the tenant, she informed us that she has already been talking to her lawyer, looks like I will have to file an insurance claim :(  Not sure how this will play out, I wasn't negligent in keeping the property clean and resources available for tenants to prevent slips and falls.

Thanks @Roy N. enclosure might be the right direction.

@Sai T. we are trying to setup a meeting this week and see what she wants... according to relative, there is a list of demand being created :/ if its reasonable, we will accommodate otherwise we will have to file a claim with our insurance.

Hello Everyone, I own a few properties in CT. One day after the recent “bomb cyclone” we had a tenant slip and fall down some stairs. We did everything properly, but the stairs still froze over. I would like to eliminate this issue from reoccurring, I was thinking of installing a stair canopy of some sort that would run the length of the stairs (6 steps). Does that seem like a viable solution or is it overkill? Is there another alternative that you could recommend? Can anyone recommend a company that can fabricate something like this? Thank you.

hi... just stating my opinions...out of the three i know a little about e.hartford and new britain. Both are good locations, but i believe the taxes are higher in new britain.  

E.hartford is good depending on the area.  Locations close to prat and whitney would be ideal, especially since pratt will be adding close to 15k jobs through out CT.

New britain is mostly working class, areas near the CCSU campus might be ideal.

Other cities to consider.... hartford, bridgeport, and maybe waterbury... but be careful of the neighborhoods you buy in.

Good Luck...