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All Forum Posts by: Santiago Marquez

Santiago Marquez has started 0 posts and replied 147 times.

Post: Below market value off market deal

Santiago Marquez
Pro Member
Posted
  • Rental Property Investor
  • Bronx, NY
  • Posts 152
  • Votes 65

I can understand Joe's point. You need to do your due diligence period & get a trusted contractor or 3 to give you a bid on what the cost would be to bring your resale value up. What are your expense numbers going to be? Do you have reserves so that when you're living there you can maintenance anything necessary? 

Post: Rezoning rejected, but still making money.

Santiago Marquez
Pro Member
Posted
  • Rental Property Investor
  • Bronx, NY
  • Posts 152
  • Votes 65

Wow great work here Scott! You've added tremendous value to this property & perhaps the neighborhood. Too bad the neighbors don't see it that way. Surely they'll come along soon. Cheers!

Post: Tenant says something stinks every time they flush toilet

Santiago Marquez
Pro Member
Posted
  • Rental Property Investor
  • Bronx, NY
  • Posts 152
  • Votes 65

Lots of great answers here so just to add to it here goes. Had a rental where a similar issue was beginning to take place. Foul odor practically all the time. So using the KISS method I pulled the toilet out, set aside & noticed the wax ring was fouled.  The flange had some how over time moved or may have been installed incorrectly. Bc part of it was allowing a surface of it to catch excrement allowing it to stand. Thus the continuous foul odor. 

I changed out the ring for a newer one & made sure to set it correctly myself. Days & weeks later problem solved.

Post: Owner Occupied Single Family Home - Rent out in a year

Santiago Marquez
Pro Member
Posted
  • Rental Property Investor
  • Bronx, NY
  • Posts 152
  • Votes 65

Great work 

@AJ Satcher I say good for you for taking action, congrats! 

Post: Indianapolis Remodel for Investor

Santiago Marquez
Pro Member
Posted
  • Rental Property Investor
  • Bronx, NY
  • Posts 152
  • Votes 65

Hey Jacob great job! How did you accomplish permitting for replanning here?

Post: First Flip! Single Family Home in Modesto

Santiago Marquez
Pro Member
Posted
  • Rental Property Investor
  • Bronx, NY
  • Posts 152
  • Votes 65

Great work Trenton! This was a homerun!

Post: 1st Investment Property

Santiago Marquez
Pro Member
Posted
  • Rental Property Investor
  • Bronx, NY
  • Posts 152
  • Votes 65

Awesome work Darryn. Looks like great curb appeal, good luck!

Post: First Investment Property

Santiago Marquez
Pro Member
Posted
  • Rental Property Investor
  • Bronx, NY
  • Posts 152
  • Votes 65

Congrats to you Felicia! 

Post: Bad Tenants Want Lease Renewal

Santiago Marquez
Pro Member
Posted
  • Rental Property Investor
  • Bronx, NY
  • Posts 152
  • Votes 65
Quote from @Isaac S.:
Quote from @Nathan Gesner:
Quote from @Cathy S.:

Hi everyone.

I would like some suggestions on how I should approach this situation. I have a set of tenants who have been living in my rental for over a year (before I even bought my property) and their lease with me is ending end of next month.


During the last 12 months they have only paid rent three times. The other 9 months I got the rent directly from the city of San Diego through the Covid assistance program thankfully. These tenants only paid their rent on time a handful of times, are terrible at communicating and wouldn’t tell me that they weren’t going to pay rent before applying to the assistance program, and again did not pay rent for 9 months.


I texted them today asking what their plans are for when their lease ends end of next month and they wanted to a new lease “so they can save for a house”. I want them gone and obviously don’t want to renew. If I do nothing, their lease automatically becomes month to month (with an increase of $200/month on rent). If they don’t pay rent, I can just give them a 30 days’ notice and start the eviction process.


What should I do about this situation? Should I just put them on month to month or is there another way for me to get them to leave?


You should not ask them what they want to do. You should tell them that you are not renewing their lease and expect them to vacate.

What a surprise that they received nine free months of rent and now they're saving for a house. A perfect example of how fraudulent and broken our government is.


I thought we're not supposed to get political on BP? At least that's what another moderator told me when removing a similar type of comment.


 Same here moderator removed a comment of mine also for referencing the obvious w/covid related rental funds. Smh

Post: Need some advice? Or options!

Santiago Marquez
Pro Member
Posted
  • Rental Property Investor
  • Bronx, NY
  • Posts 152
  • Votes 65

Congrats Jorge on focusing your interests in REI. As FHA loans are plenty useful for those eligible & are a great tool to use in getting into a great asset but using one now may be difficult. In hot markets you can be easily be outbid for a property that you find is a great numbers fit. If considering using the FHA option don't overlook any For Sale By Owner deals. Perhaps you can use your FHA option w/a seller more interested in your criteria that way you'll have more of a competitive edge going in. Also find a great realtor on BP who can answer questions pertaining to FHA process & can guide you to possible investments that fit your criteria.