All Forum Posts by: Account Closed

@Tyler Hallman it sounds like you are really motivated, which is great! Looking at potential deals is a great first step.

Based on your posts you need to regroup and seriously decide if this is for you. If your ambition is driving you to try and bend the law because you don’t agree or think it’s fair time to hit pause.

If you can’t do it legit then don’t do it at all. I don’t say that to discourage you at all, or pass judgement. Banks, the government, IRS, and SEC are no joke. You get caught committing fraud and it will cost you way more than you will ever gain by cutting corners.

Hope you are able to figure it out, good luck.

@Jay Wu are you going to be an owner occupant, or is this strictly an investment property?

@Jay Wu I am local to Rochester and invest here as well. If you would like a reference to a great local lender I can send you their contact info

@Matt Bailey Cozy

@Matt Bailey Cozi

@John Morgan your first sentence says your friend wants to break her lease due to her landlord being slow to repair issues.  Would it be more accurate to say your friend wants to break her lease so she can move into your unit, and wants to know if she has an acceptable excuse to avoid being sued?

I agree with you, we should respond to maintenance items in a timely manner, and no tenant should have to live with substandard conditions regardless how much, or little, the rent.  

I am not in Texas and have no knowledge of the landlord tenant laws in Texas.  My guess would be that even in a state that is landlord friendly your friend is going to have a tough time making the case based on the information you provided.  Good luck

@Patrick Risko have the tenant sign an estoppel that verifies the rent amount, security deposit, length of lease term. If you are working with an attorney they can create a simple one page document for you.

@Matthew Drouin Thanks for the reply.  I have had that happen when a recently purchase property was increased to the contract price, I have come to expect that.

A few properties I have held for a few assessment cycles were substantially increased.  I am curious to see if other investors are having a similar experience, or if I am just one a lucky few!

Wanted to reach out to fellow Rochester, NY investors.  Has anyone else received the proposed new property tax assessments?  If so, thoughts?

@Markus Ennis sorry I am saying the opposite.  If someone brought me a deal and expected me to contribute all the funding it is highly unlikely I would split 50/50 equity.  The deal would have to be so good that even at 50%  it would be better than what I can find on my own.  

Maybe because you are dealing with family they would be more generous and agree to the 50/50 split to help you get started.