All Forum Posts by: Michelle Kalisz

Hi folks,

First post here.  Like a lot of investors my tenants had trouble paying their rent during the pandemic— understandably so, and I did not do much all of 2020-2021.  A little rental assistance here, but definitely 1000s behind.  Since they were good tenants before the shut down, I had good faith and assumed they would pay rent when things went back to normal.


long story short, it’s November 2022 and I’m going 7-8 months this year with no payment.  I have two open evictions in other buildings and wouldn’t mind filing again, but the problem is the courts are so backed up, I haven’t even gotten a date for a May filing, which sounds like could be over a year from now.

coincidentally, the non-paying tenant’s bathroom bathtub broke, we tore up the floors and there is heavy mold.  You can imagine how unexcited  I am to pay 10k to fix her bathroom.  Since the apt would be uninhabitable while we are fixing and clearing the mold, do you think there’s a way to also remove the tenant? There is no active lease, and I was thinking she could reapply for entry otherwise it would be trespassing.  Has anyone had experience with this?? 

Many thanks,

Michelle

Hi everyone,

I am new to the investor community.  I am looking to buy my first (!) property in Brooklyn, NY, a 5-unit multifamily building, which would fall under a commercial loan (which I've done intentionally).

Aiming for 900k purchase price 720k in financing.  As this is the first go, wondering if people have experience with the loan process.  I have talked to Wells Fargo and another bank and they don't give you too much info until you have the building in hand.

Specific questions:

- I assume bank sends their inspector to the building to assess, any idea how much this costs?

- any leads on banks people have had good experiences with?

- how impt is personal income? I was told it is almost dictated completely by the building's income.

Thank you for any help!