All Forum Posts by: Lisa Forde

I am renting out a comercial unit this year, potential tenant who wants to open a take out place says want to change electric outlet from 110v to 220v because will use comercial oven and also need to install 3 sink as is required by city)

Both job need a general contractor and apply permit. Should I let them do that on my unit or should I not?

I will have to sign off the paperworks.

Hi, I read somewhere that says if your annual income is less than 35k or so as a single person or less than 52k as head of household etc , you don't have to pay capital gain on a sold investment property, is that true? ( also if all income is only generated on a rental property will that count as income?)

thank you

@Nicholas Aiola, thank you, all cash deal, and if I exchange into something that cost about 180k including all closing cost, how much do I have to pay for the difference of 70k that I keep on my packet? (estimated 50k-75k tax braket) 

thanks

Hi Nicholas, I have a question regaring 1031E
01 2015 bought an investment property for purchase price 175k+5k closing cost =180k total cost , claim depreciation about 5.5k every year for past 6 years.
now selling for 270k ( with about 15k closing cost including commission) = 255K net. exchange to something 195k+5k closing cost =200k.
with the remaining 50 difference, I Don't think I can exchange into anything. I was hoping for a REIT, but is not going to work for me. so how do I payd on tax for the 50k remaining or is it culcault different with the depreciation deduct as purchase price?
just wondering how much tax do i have to pay with this exchange
thank you

Hi all, Once you have enough property on rental and you think that's all, you need to diversify your investment portfolio, but you have no experience on stock or mutual fund or EFT, you just hear them. what would you do when you first investing something else besides real estate. buy a SP 500? vanguard? just curious if you guys all invest on real estate or you do something on the side. thanks

Hi, I have a tenant who hasn't pay since October 2020, finally went ahead and pay an attorney for eviction, I understand I have to wait until march/31 for eviction to happen. is there anything else I can do to get the tenant out there? get to the credit company and let them know he is late for payment? 

is really hard for landlords to survive.

what can I do to make sure eviction doesn't get extend again? call mayor? call governor?

thanks

Hi everyone, my tenant asking me to lower 20% of rent, which is a lot and kind of greedy, or he is seeking the option of breaking the lease. ( how ever I do know that he recently lost his job) 

Should I offer a 8% discount to keep him or should I just let him break the lease? ( he also seek for goverment help recently asking me to sign some sort of address and rent prove to nyc govement)

If i do provide him a 8% discount what's best way to tell him on text? 

thanks

Hi all, I have a studio Staten island new york , usually i increase about $30 a year on my tenant, but wondering for this year , should I increase the rent? I know new york city has been very diffult but what about stanten island rental market? any one from there and knows?

thanks

Hi, I checkout two one bedroom with same price.

1) Next to the mall ( with Costco and others supermarkets and fast food restaurants, with door man) but about 700 sq.

2) about 5 block away from the mall described above, the closest supermarket is 4 block away about 10 minutes walk( I don't drive) , but 950 Sq, with 9 feet ceiling. No doorman.

Same HOA fee and about same price

Which one would you choose?