All Forum Posts by: Gaspare U.

@Mike Chavan hey I'm in NJ as well and looking to begin a NJ out of state networking group. PM if you have any interest.

I was actually considering starting one with a focus on out-of-state investing in multifamily and hotels. I'm in Cranford, how far are you?

Gaspare

Like @Sam Lewis mentioned that is a great option. The only thing is you need to check zoning laws. 

@Patrick Gray actually doing this right now. PM sent

Hi Tracy, I wouldn't right now. You currently have someone who is willing to pay rent and commit. I wouldn't risk that for the unknown. You could get someone who knows they can't be evicted and deal with a huge problem OR worse upset the tenant you have and they decide to stop paying. 

If your are willing to push it a bit perhaps do a 12 month lease, 6 months at the current rate (because you have been so good with us) and then a small increase of X in the last 6 months. 

Good luck!

@Frank Ygarza I use it for apartments and it works well. I was in the process of setting this up with a commercial retail tenant but on pause due to COVID. I think it will work as expected with commercial as well.

Good Luck!

@Matt Higgins , I have to agree with you. When this pandemic hit my original thought was Class C will do well. My basis for this thinking:

• tend to have multiple jobs
• boots on the ground jobs (kitchens, factories, trade helpers (plumbers, sheet rockers, etc)
• low rents!
• multiple document/study/teleconference universally declare how the supply for C is non-existing. We have a big problem with affordable housing and there just is not enough.
• also what you mentioned, low taxes

 But on BP I've seen how people claim class A & B are the survivors. They mention how tenants can remote from home, etc. They have a point, but i feel a lot of those people have mortgages and not rents. Even in large cities like NYC they tend to buy condos or move to the burbs when their family starts to grow. 

Just my opinion and I agree with you. I think class C will do well or at least better.

@Bryce Cutler first, thank you for the quick reply! And second, may you and your family stay safe.

Thanks again!

@Bryce Cutler which form did you use please? I uploaded the Business Loan Application Form 5. I’m a landlord for both retail and residential properties. 

Thank in advance for your help in this.

Which application are Landlords using? The one I filled out was very basic and simple. I have a retail strip mall where tenants are already asking anywhere from rent forgiveness to using the security deposit for April's rents. I also have multifamily, where I haven't heard anything from them yet.

Thanks in advance!!