All Forum Posts by: Theodore Xenos

Thanks for the reply @Mitch Coluzzi. The one is 16 and the other is 14

lease questions. I am being asked by a tenant to add his kids names to the lease ??? never had to do that. they don't pay rent. they stated that the North well school districts won't let the kids go to school unless that happens. I think they are just trying to prevent eviction they are one month behind as of today. my question ( and I will ask the school personally). Has anyone ever done this? is it true that the schools want kids names on leases? has anyone ever had a dependent on a lease that prevented them from evicting? thank you in advance.

What does the land consist of? Lots of questions come up. What is its zoning? What is tillable? Is it forest land? Is it already subdivided? Taxes? Is it under agricultural Preservation?

I'm interested in the same market and have had trouble finding anything that makes income unless its a cash purchase or huge down payment. The only deals with finiancing are some of the co-ops in astoria that rent for 2k but are worth under 500k.

I have searched the astoria market and I have worked here for two years three days a week. I understand your struggle, and will be the first to say we are both looking for unicorns. Astoria is littered with duplexes not triplexes. its not what you want, unless you want two of them, but each duplex as of 2017 has been going for 900k-1.2 mil. The stronger investors have started raising the floors and the prices due to zoning changes and free money. Old two bedrooms go for 1800-2200. you might not make 2000 clean and if your loans at this rate are for 1.8 you might not make any money.... that's not a problem though. as long as you can manage paying the taxes (try govt programs), afford 10% in rental loss due to non paying tenants. Fix any small repairs you should come out with about 5 % appreciation on your property. This is all my guess work. Its not that there are no deals; its that all the deals are cutting it too close. I can talk for hours about it. I had some ideas for your down payment that might involve multiple co-ops instead of a full house. I am not a broker or agent and cant stand them in NYC. Just send me a message if you need to hear more about my ideas or if we can start a local rei group together and bring more like minded people together

im in 

Thank you for your diligence and setting precedent.

i don't want to blame the casino in Bethlehem for some of the current issues in reading or Allentown but I just might praise it as providing these fourclousures. Watch reading closely. Allentown is closer to the action of the Penn trpk and 78 east gets you to new York in two hours. 

Also a quick shout out to the yellow letter I just got for my property in lehigh valley. Thanks for the letter. I am not distressed in that area and still young enough to keep it. I would love to 1031 for a larger farm in the 100acre or more realm, but I'm not much of a farmer. It's good for almost any investor if the price is right, but boots on the ground and handshakes might be the best way to get a deal just my beginner two cents. 

Also trying to see if my brother can quit his job and property manage my PA stuff he's good for repairs mainly electric but has helped me build my house. If you need him let me know. 

I am in okc as well looking for the same. With two homes in need of repair and possibly sale. Check my post and I can get more details. 

two homes in need of repair. Fix and flip scenario. 

Great location. Looking for contractors. I have till Tuesday to repair or get offers.