All Forum Posts by: Steve Totino

I own the “duplex company” so why act as an employee?

Hi I have a Two family home. I live in the bottom unit. Tenant lives upstairs. He hasn’t paid me for this month. I don’t like him at all he has multiple lease violations such as smoking, loud parties as night, and having people stay for multiple weeks at a time. His lease is up in April which I’ll be kicking him out. 

Im looking to invest long distance. I’m  living in Connecticut. Looking at Single family home in Texas ...Dallas, San Antonio, austin. The main goal would be appreciation but I’m also looking to get this as a fun place to visit. I’m single and 29 so I’d make a trip out of it to check up on the property and have a good time while down there. I already have a two family home in Stamford ct which I live in one unit and also renting out the detached garage. I have to “put in” about 600 towards the mortgage after getting my rents. 

i live in connecticut. I bought a 2 family home and i have a tenant above me. I didn’t live in the house for 8 months because it was being renovated. During that time i’m sure my tenant was extra loud because nobody was below him, he likes to have people over and play music...

I told him a couple times about keeping the noise down..a couple nights it’s been 2am and i hear music thumping! he turns it down right away after i ask and apologizes but i don’t want it to happen again.

what can i do? i don’t want to ask again

Hi I'm 28 years old and single. I have about 100k in stocks (retirement s&p) and I bought a 2 family house in May 2019 for 535k put down 20%, 30 year. I'm living in one unit, renting out the other, and renting out the garage. I pay about 750 towards the mortgage to live there after my renters pay me (with taxes, insurance, etc included.)

I was thinking about saving for another real estate property but I'm not sure what direction I should go towards. Condo? Another Multi? Single Family Home? Something out of state? I'm trying to think of the future and I was thinking maybe getting single family now, renting it out. Then maybe if I have kids one day moving in there later on. Not sure what turns my life will make.

Hi i'm trying to mimick a portfolio like this

50% Stocks (mostly s&p500 and total stock) 0% Bonds 40% Real Estate, the rest into savings account for emergency funds. I'm 28 years old.

https://www.financialsamurai.com/recomm ... xperience/

Real Estate

I own a 2 family home that I'm renting out a 2 bedroom and I'll be living in the other two

bedroom, I'm also renting out the garage for storage. I have about 140k with the down payment and mortgage payments into it. The house price was 535k and I bought it in may 2019. The mortgage with everything included is 2900 and I get 1800 from the 2 bedroom and 350 from the garage.

My Stocks

110k worth in stocks 401k/Roth/Taxable

So I want to start saving up for another multifamily home soon...or maybe even apartment to buy and hold.. My question is,

1. do you think this is a good allocation for real estate vs stocks? My dad has multiple rental properties

and he owns a construction company so I'm in a better position than most.

2. Where should I be saving this money for a down payment. I thought I

heard the rule is if you aren't going to touch it for 5 years you can

put it into stock. I guess I would be close to that amount of time. I

would probably need 100k or more for this down payment if multifamily or

about 45k for apartment..or should I park it into a high yield savings,

around a measly 2%

3 Are apartments ever worth it? I know the worry is HOA fees, any pros to them?

Thanks

https://imgur.com/a/59gLdur

Hi I have a 2 family home. One is 2 bedroom and the other is 1 bedroom. I plan on keeping this home for a very long time.

I will be working on the 1 bedroom unit (1.5 bath), as I will be moving in this unit. While I am moving in this unit, I am still treating it as an investment home because I'm not sure how long I will be staying. My dad owns a general construction business so he will be doing the work, so I will be getting a little break on some things...I want a nice place but biggest ROI upgrades. Here are some things I was thinking of...

---Making it a 2 bedroom, there are 2 rooms, but one is a "living room" as soon as you walk into the front door. Both have closets.

---Relocating the closet in one of the bedrooms. Right now the closet is adjacent to the full bathroom. When you walk into the bathroom, it's about 2 feet to get to the toilet/shower. Tearing down the wall and making it open up more. Talked to my dad and he said this wouldn't be difficult to do.

---I tore up the carpet, and there was wood flooring below, so refinishing that

---The kitchen had awful backsplash, took that down and will replace. Also putting in quartz countertops, taking out the laminate

---Taking down the wall and adding a half wall to the cabinets in the kitchen, to create a more modern open concept floor plan.

---Right now the washer/dryer is in the basement and to get to it you need to go down the bilco doors. I was going to relocate that to stack-able in unit.

---New bathtub/toilet, look dated

--replacing bathroom tile as pictured

--painting all the walls myself and painting the radiators

Let me know if you think anything on this list should/could be knocked off, or if I could do anything differently