All Forum Posts by: Steve K.

I saw a 4 Units MF. 1 tenant is section 8 (s8) but family seemed nice. Other 3 are regular tenants

I got few questions about section 8, can someone please answer:

1) Any additional things I need to consider about s8? Before closing or after? 

2) Are units individually s8 or entire building?

3) Any issues dealing HUD?

4) Any inspection cost by HUD?

Thank you

Just saw the 3 properties. 

P1: 9 Units. Looks ok. Some units are really small. Been ok but don't know why it didn't sell yet. Someone got murdered nearby. Bad. I'm ok but my SO is not ok

P2: 4 Units. 1 tenant is section 8 (s8) but family seemed nice. Other 3 are regular tenants

I got few questions about section 8, can someone please answer:

1) Any additional things I need to consider about s8? Before closing or after? 

2) Are units individually s8 or entire building?

3) Any issues dealing HUD?

4) Any inspection cost by HUD?

Thank you

@Dan Hatch I appreciate those tip. You meant "Contract"? 

@Dick Stevens I don't know how to define a good tenant. Previously, I had one defaulted because of health issue. Another was a bad choice, I didn't screen them right. Maybe because of my desperation.

Can't afford expensive ones yet. Numbers look to works out. Yes, I can deal with it. 

I currently rent and live in a low/mid income building myself. Folks who live there seems to be good/hard working people.

I'm aggressively looking for my first MF rental purchase. I just found 9+ MF Units deal, that I need to act on asap.

After looking thru some public records. I found about 12-15 eviction cases over last 9 year since she has owned it. All cases were closed in favor of Landlord and 2 are still open.

Here are few questions that I've:

1. After settlement, would I have to deal with non paying tenant? Or a can have I not paying ones evicted.

2. How much can eviction proceedings cost if lawyer is involved? Can it be done by an educated landlord without help of lawyer?

Thank you

I have employed several virtual assistant in the past. You can try onlinejobs.ph just Google it. What are you trying to get done?

@Maxwell Howard I'm also shopping the area for that reason.

Most folks answered your Qs. Like @Jessica Zolotorofe pointed out, Manhattan is a huge island. Also note, if you buy anywhere within The City of New York (5 Boroughs) your sister will be paying NYC income taxes also. If she lives, outside 5 borough she don't pay that. Those taxes come along with perks that each NYC borough has to offer. I guess there are city taxes in Yonkers too but I'm not sure how those work.

Hi @Yahav B.. Congrats on your new Condo. I'm also reviewing Union City, NJ and Secaucus, NJ. Are you renting that out? How is the area like? Can you share more details? PM me

Thank you

Thank you :) for praise @Alina Trigub Just added you and let's chat sometime. Looking to learn from you all. 

@John D. Thank you for the information. Is it every Tuesday? 

Reading area is improving. I would buy today if numbers work out. Keep in touch!

@Arthur Lyons You've asked a very bold question. I'm starting out and was curios about the same but knew there were no straight answers. I appreciate the folks who shared their information.