All Forum Posts by: Greg B.

@Trevor Ewen, my only response to your well thought out remarks is your ending...

"There are other reports very bullish on regional migration to Syracuse, and in 5 years, I may be trying to invest there"

Why buy for $10 in 5 years when you can buy for a $1 today?

What's the numbers on the place?

@Alfredo O.

Very good! Great job!

Did you hire a contractor for the work or did you take it on yourself?

@Alfredo O

The numbers sir. Purchase price, rehab costs, etc. How did you come across it? How did you finance? You know, the normal stuff.

Again, congratulations!!!

@Trevor Ewen, if you don't mind me asking, what concerns you about the Syracuse Market?

Thanks

without having established business credit the banks will expect a personal guarantee

Who are you using here in Syracuse?

Also, what area(s) is your property? Some PM's will manage your property but if its on the lower end they will send someone to cut the grass and that's about it.

And the rents because they need to get paid of course

You might have to ask yourself, is Gary, IN filthy or too filthy to you?

You could always invest outside of Gary.

I suggest buying a beginner book or two and find a strategy that works for your personality and for how you want to make money in this business. No matter where you look someone is paying rent so someone is collecting.

Good luck

Your post is a bit confusing but I think you're asking about Lease optioning the property but not leasing the apartment to this guy. Is this correct? 

I haven't dealt with section 8 but it sounds like all you're doing is trying to sell your property to this guy. Talk with section 8 about how this would work. There shouldn't be a new tenant-landlord agreement. the agreement would be owner to new owner. 

Any help from experienced BP section 8 landlords out here?

he says he doesn't want to use it as his main office but only his home office. If that's the case he doesn't need the lease in his company's name. Something a bit fishy about this guy.