All Forum Posts by: Shawn O'Shea

Hi All -

I have a 1 bedroom house and the roof/ceiling is leaking into the bedroom (over the bed).  It has been raining for ~12 hours and no signs of letting up.  I responded to the tenant's text notifying me this morning within 1 hour and I have a contractor coming out this afternoon to assess the problem. As a landlord, what am I obligated to do for the tenant?  Since this is a 1 bedroom and the leak is over the bed, what do I need to do for a place for them to sleep? Am I allowed to tell them to use the living room?  The lease says they are responsible for any damage to their personal property due to leaks/water.    This property is in NY state.

Sounds great Mark. I look forward to meeting you!

Shawn

Hi all -

I am just starting out in REI and was wondering if any experienced RE investors in the Rochester, NY area would like to meet up for coffee, lunch or drinks. I am interested in MFH for buy and hold and learing about fix and flipping strategies. I am hoping to find a mentor, build relationships or maybe even a partnership somewhere down the line.

I cant make it to all of the Thursday morning REIA meetups because of my day job, but will be at the one this Thurday evening in Brighton. If you are interested in meeting let me know and/or let me know if you'll be there on Thursday so I can introduce myself.

Just to clarify Rochester, NY

Thank you all for welcoming to BP. I'm on my first week since I decided to push the throttle on my investing. I'm starting to run numbers on several MFHs in Rochester and am looking for some expertise -

- What are good areas in Rochester to focus on for high cash flow type properties; purchase price ~$30k/$40k? Cash flow is relative so figure 25% down w/ a conventional 30 yr @4.8% (Wells Fargo)

- Are there better financing terms at local Rochester institutions or in general?

- Would it be better to look at homes that are $50k - $100k and get one of these as opposed to multiple $30k homes? I know this may be a preference, but what are thoughts?

- What are good numbers to expect in this market - Cap, Cash ROI, Total ROI? Not the exceptions, but the norms.

- Any recommendations on PMs (not sure if this question is allowed here = endorsements)

You help is much appreciated!

Shawn

Hello BP -

My name is Shawn O'Shea and I am new to REI. Bought my first rental property in October 2013 and am looking to and grow my portfolio. I've done one rehab (my own house) and learned a lot on how to manage that type of effort. I want to buy and flip homes to build capital as well as buy and hold for cash flow and long term. My main goal is to make this my exit strategy from my full time job in information security.

I've been reading this site for weeks and can't stop. Then I downloaded the app and can't put my phone down. This site is terrific and very inspirational.

Eager to start networking with other investors locally in ROC and virtually on BP and pick up my next property. I would like to buy a MFH in the city and a rehab in the next three months. Im new to this type of investing and tips would be greatly appreciated.