All Forum Posts by: Krystof Pilisiewicz

Thanks, Guys! all great feedback. I hate when someone makes a decision for me on when to fix the roof or anything in this matter so now this got me thinking..Hmm;/ well so far I am hearing overall I would say the majority of the feedback I am getting is not that positive. 

I am glad I asked the question:)

@Jaron Walling, Thanks for the feedback. Your points are taken!

 From what I see,  90% of condos on the market don`t make sense when comes to investment, but there are Condos that make sense and if you run them by the 'Buy and Hold' calculated on the BP site, they show up with 300-400$ cash flow each month. 

So I am curious if anyone that owns condos in the Tampa area has an opinion on that.

Cheers!

Hi Everyone, I wonder what are your thoughts on buying a congo in the Tampa area and renting it out. I am planning to do this but my mortgage lender said that when comes to condos they require a 30% downpayment because of the foreclosures they had in the past. He advised me on NOT go with this plan. 

However, I want to hear from you what you think of this? Any landlords that rent out condos can advise on their experience?

Thanks!

hey Sean, that is a tricky situation. I would tell the buyer that the person needs to move out before the closing or let them pay you some money because of that situation 

At the same time, I bought a house with tenants who paid low rent, but when I eventually asked them to move out they refused to do this because they didn`t want to pay the higher rent anywhere else. That was not fun. 

At the same time, can you see if the old tenants agree to pay a higher rent before the closing? you would have to check their finance to make sure they can afford it.

Hi,

I am about to list my rental property (2-bedroom apt) on the market. I know there is a website that pushes your listing to many rental websites but you just have to list your apartment on this one website. I wonder if anyone knows this website or give me tips about listing rentals. I am planning to use Craig's List as my primary medium, but I would not mind putting my listing on Zillow and any other real estate site/app.

Looking forward to your feedback!

Thanks

Hi, I am in the middle of working on finances for a purchase of a multifamily house in Queens, NY. I`m planning to move out from my current place and move to the new house. I was speaking with my bank and they told me that I need 2 reserves (6 months each) for the new house and the current house. This doesn't sound right to me, since why I need to have reserves for a house that I`m already living in. I thought I need reserves just for the new house. I wonder if this is a standard requirement when comes to BRRR.

Thanks, guys!

@Account Closed I would say 1.3-1.5M. The lower you go the faster you sell it. Don't go above 1.6M. You will be on the market from many months. Those houses sit on the market for months. Good luck, brother!

@Johnny Tsu, HI, I would try to delayed the closing if possible.

Also, if they already contacted the marshal this is a matter of a couple of weeks before the place will be empty. However, I would ask the seller for $$$ associated with this process. Maybe 2-3K? I mean you would have to deal with the Marshal and then you need to do something with tenants furniture if marshal kicks them out. Marshal will take tenants but their stuff will stay in your place. and you can`t just throw this outside. The tenant can sue you for any damages to their furniture or missing money.  What you can do is hire movers and move their stuff to a storage with 3 months pay for rent. After this, it`s their responsibly. but again, who will pay this work/storage?

Thanks @ Gary Raynolds!

Hi, I`m trying to find a good eviction attorney that works in Queens, NY.

I`m finalizing a purchase of a property that has tenants that don`t want to move out. They don`t have a lease and pay month-to-month.

I was told that a holdover process is quicker than an eviction. Any recos or advice would be appreciated it! Thanks so much.