All Forum Posts by: Rizwan Halim

According to the NYTimes the eviction moratorium got extended to the end of January 2021.

Just relay hope the incoming administration doesn’t extend again or at the very least put a proper landlord assistance program in place. If this is extended another 6 months, that sure would suck.

Hi,

I am looking to buy a rental, maybe Airbnb, and every place I look it seems like bidding wars and other insanity.

The only place where I think I could buy without a bidding war is Manhattan NY. I would love to buy a rental for the right price as I believe NYC will bounce back in a few years. My time horizon is 5 to 10 years.

Even though I would be out of state I have contacts and family in NY. Any thoughts?

That's an interesting idea!  I should have mentioned this earlier but they did text me earlier just acknowledging that they received my communication.  However they did this only once.  This is so out of character for them, since usually they are extremely communicative.

I have a tenant who has gone non-communicative and not paid rent for September.  They have been awesome otherwise and have been here for quite a few years.  There has never been an issue in the past.  The rent is now 10 days overdue and after repeated attempts to get in touch, they have been non-communicative.  I would really like to work something out with them but given the lack of communication see my options very limited.  My next step is to speak to an attorney for the eviction process.  I know NJ has a stay on evictions right now.

Is there anything I haven't considered that I should try before going down this route?  Thanks all.

I am buying a property with a friend, 50/50 cash. Any recommendations on how to title the property? Not sure if we are going to do a LLC, but is this recommended? It's only 1 property and I didn't want to complicate things too much by adding the hassle of a LLC.

Hi all,

I have a chance to invest in the Phoenix market but am concerned about the ongoing drought and how that might affect property values in the future.  From what I've read, the summers are only going to intensify and Lake Mead might soon hit deadpool, where the Hoover dam won't be able to generate enough electricity due to lack of water.  Lake Mead is already at 1074 feet, at 1075 feet there will be cuts to the Central Arizona Project, if this level remains on 1/1/16.

A lack of water means businesses and residents fleeing.  This is not even very long term but is expected probably over the next 5 years.

Am I overthinking this or rightfully concerned?

Thanks.

Arjun, for me 2% is 2% regardless of area.

In NJ it is difficult or impossible to get anywhere close to 2%, so when I do see 2% I understand that there might be difficulties involved. Hope I answered the question.

Man not a lot of love for Trenton.

Arjun what do you mean by income levels for the 2%?

Searched through biggerpockets and was surprised to see very little discussion on Trenton NJ.

I am seeing the 2% rule all over the place here and am tempted to make the jump.

Anyone on BP investing here? Advice?

Thanks guys for the responses.

I did call the insurance company, both mine and his the first thing and they said they did not cover tenant damages.