All Forum Posts by: Account Closed

I recently signed up to chat with a laywer at JustAnswer : and this is what they gave me. Not sure about paying $35 for the link but we did have a little back and forth. 

https://lork.nyc/landlord-comp...

Do you have a citation for that 25k write off? I’m in this situation and would love to know more-  thanks! 

Hello, Sorry to have missed this. I just joined the community and eager to meet more members. Anything happening in May? 

I'm currently a REPs person and my main goal is to reduce my tax load. The theory to my non expert mind is that there are 2 types of income- passive and non passive. w2 is non passive and you pay a significant amount of taxes depending on your income. WIth REPS you can take your passive losses (i.e. from rental income) and "apply" it to your W2.  I'm doing this with my husband- where he is the W2 earner.  

Hello :

I'm looking to fast track some learning by taking an associate broker job at a commercial real estate firm. However, I'm concerned that this would take away from my REPS hours as opposed to supporting them. I currently manage and am renovating a property which supports my REPS qualifications. Any insight would be helpful! Thank you 

Hello experts! Is there a guide out there to evict Section 8 tenants. I have a loose one from several articles- 1- File 2 Notices of Violation. 2- After 10 days file 30/60/90-Day Notice to Quit  3- File CBE to  the tenant and  the LHD Eviction Review Unit (ERU) with proof of mailing to the tenant 4- wait for ERU response 5- wait for 30/60/90 days to expire 6- go to L+ T court (if tenant doesnt move out) ?? and then 7- Send Notice to vacate to ERU and tenant... and then ..... file a Notice of Petition and Petition to the ERU?  and then get a Warrant of Eviction? which gives them another 14 days and then call the Eviction police? phew. sorry but its alot to process and stay on top of. 

This is awesome- but sadly I missed it- any more on the horizon?   

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Brooklyn.

Purchase price: $1,750,000
Cash invested: $500,000

My husband and I bought a beautiful semi renovated 3 family unit in Brooklyn to bring us back to the city after being away during th pandemic. This investment is about REPs and learning how to do things yourself while also lowering expenses.

What made you interested in investing in this type of deal?

House hacking, more space

How did you find this deal and how did you negotiate it?

Realtor

How did you finance this deal?

cash and 30 year

Lessons learned? Challenges?

Now that we are here, the challenge is to raise money to renovate and keep moving in attaining financial freedom.