All Forum Posts by: Lynn Fujihara

No PM in place at this point. Old PM never released documents signed by previous owner. The eviction process was started by my attorney in December 2020 but due to Covid, court date never happened and my attorney disappeared.  There are court documents, but not sure how to proceed.  I have reached out to another attorney.  I was also told by the last PM that defaulted on me, that this is not uncommon and yet failed to help me.  I have not had any good stories on my out of state investments.  

Thank you, I will contact him.  

SFR - Ecorse, MI

To make a long story short, performing note converted to non-performing, DIL, property management failed not twice but 3 times, attorney, Steve Richter, has not returned my call after I paid him and my tenant squatters have not paid for 2 years.   Any good referrals  for attorneys and property managers?

Thank you for all the recommendations and tips.   

Thank you for the reply.  I am looking in the Richmond Hills area.  Seems to be a lot of health care systems in this area.  The school rankings are quite good.  The numbers work for condo rental in the area.

I am a realtor from California looking at the current investment market in Tulsa.    What are your thoughts?  What is the economy like in this area?  What parts of Tulsa do you not want to be in?  I am looking into condo's - as a start for family members in the area, that would like to start investing.

Thanks for input Jason.

Thank you for all of your valuable input.  Seems like Buffalo (Solar City), Albany (Casinos plus colleges) and Rochester (Colleges) are the areas to look into.  The college student housing area seems to have decent cap rate.  The weather ohhh the weather, yes being from Cali, I don't even think about that, another consideration.  I would also have to build another team in another state.  I would have to file state taxes in another state as well.  Its good to explore other states, thank you all for the heads up.

Hi all,

I am looking into several multi-unit properties in upstate New York in the university areas.  The financials look very positive with the college students needing housing.  Anything I should be aware of as an out of state investor in New York? I heard that New York is not a friendly landlord state?  Any comments?

Hi Gregg,

I own several single unit properties and currently in the market for multi-unit properties. I have gone to a lot of seminars and met with commercial real estate agents, financial brokers, etc.  Having a tough time finding the right one, but be patient and continue to crunch numbers, etc.  Just studying current figures on some of the descriptions from Zillow adds will give you an idea.  Something that I learned along the way is the financing of Multi-unit properties have different qualification for loans. ie: personal credit vs gross-income on property, depending on the number of units.  Good luck!