All Forum Posts by: Mark Cohen

Nicely done on 18 days, 

Under new laws from June the Tenant always can get a 2 week adjournment at court appearance, but being in the process of an eviction in Orange County Ny there is at the very least the following:

1 - 14 day notice 

2 - Petition filed with the court which means court date will for sure not be until at least enough time for court to notify tenant (usually 7-10 days) 

3 - 2 week adjournment, = Min 5 weeks and that's before the date when judge set the eviction deadline for.  

Also having sat through a few court dates I can tell you a lot of lawyers unfortunately don't know the new laws, and don't do a good job on the petition, unbelievable the amount of cases thrown out for technicalities... 

If anyone does happen to be in Orange County and needs a good attorney more than happy to share information so you can avoid the same costly mistakes I went through

Airbnb is similar to having a large Apt complex, there will always be a few bad apples, given enough time you will come across them. The points made here are very valid in that don't expect that that it's an easy route, and definitely don't expect Airbnb to be a fair mediator. I work for a management company, have hosted hundreds of guests, had to deal with 2 evictions, a fire, and numerous lost cases with the Airbnb resolution center.  

Airbnb actually has a recourse where you can partner with a local host to manage your property so that may be the easiest route to take

It it wasn't in the house rules or additional info then you can reach out to Airbnb trust and safety team and they would cancel free of penalty - I know this from experience as a host (actually I manage several Airbnb properties and have quite a lot of experience) That being said I would recommend as Lucas Carl mentioned to keep an open mind and not go hard on the review, they are very damaging.

Hello everyone,

So I am looking to flip a condo - I Had purchased for 40k about a year ago all cash and it has made me about 12% back in a year. Tenant is moving out at the end of the month and I put it on craigslist for 55k and got an offer for 15k down and 1k per month till paid up

It sounds like  a decent offer but am I missing anything?

Mark

I am going to be meeting with a potential investor next week who is interested in being the capital partner in a "flip".  From my research, in my current area there is a strong demand from buyers and the margins on a flip are thinner and riskier, at least from properties on the mls (I am an agent)  Now if one goes a little further out there are still deals which wouldn't require so much rehabbing but it's a matter of waiting 3-4 years till the demand catches up to those areas.  Personally I am less risky and would go that route rather than trying to squeeze out money from a quick flip, but I imagine most investors want their money back sooner.

Does anyone else see other pros and cons to buying further out as opposed to in the current high demand area?

I don't remember all the details of it but some condos dont meet standard fannie mae guidelines and are harder to get fha approval for a loan thus restricting yourself to more specific buyers.  again I am not sure I am getting all the details correct but you can look up more on bogger pockets. Definitely important info to know if you plan on flipping.

You could always buy......and then rents would stop rising....

I applied for a Kabbage account in case of a quick need for a lot of cash.  I haven't actually used it but they approved me for 50k to start with.