All Forum Posts by: Latisha Millard

Congratulations, 

I would first advise you to go onto NYC.gov and learn more about City FHEPS. There are 2 types, one from the shelter(DHS) and the other is a shopping voucher (homebound). Additionally, make a friend at one of these agencies. They will provide a lot of guidance if they like to speak with you. There are additional nuances to these vouchers you should become familiar with. My experience is firsthand because I oversee programs that process and distribute these vouchers. Hope this helps

@Zach Howard-my best advice would be to set up connections with local contractors, shops and services like snow removal contractors based on your area. I also sign up for the respective Chamber of Commerce and attend monthly ( every other ) events to meet local business people. I also use property management software such as Rent Redi to help with managing. I hope this helps since this is still in development for me as well. The goal is to build some capital during the first 2 years. Afterwards I may pivot. Hope this helps. 
where are you thinking about buying? Do you have rentals already?

I am based in NJ but have rentals in Connecticut and NY

Hi-I am self managing 2 rentals out of state. I would love to do something closer but the property taxes are just insane. 

I have the attorney ask the seller to provide proof and a statement that everyone is up to date. If the seller cannot provide this or refuses I would rather leave the deal and take a small loss opposed to having to evict someone right after purchase.

Hello- so sorry to hear about your investment story. I have a mixed use multi family in Hartford as well. No horror story to share since it has been going well. I do understand some neighborhoods in Hartford are tricky and you have to visit at all different times and days before making a purchase. It was a struggle to get someone on the phone for my section 8 tenants but I was paid once it went through. Hartford is definitely a trial by fire. 

You need to look at the current owner operation of this building.  Is this a nonprofit?  If so, are they receiving supplemental funding from the city, state, or other grants?  Calling it an assisted living for a specific group is usually state-licensed.  If not, it's a simple SRO (single-room occupancy).  Based on the response you can pursue avenues to assist with your dilemma.  

Hi- when will the location be available?

Is anyone using local property management companies in Albany? Any suggestions?

Hello,

i just started scouting the downtown Albany and I am interested in the information and experience of people that have ventured into this market.