All Forum Posts by: William Merone

Get an attorney or offer cash for keys.  I know that may not be ideal but if they're refusing to pay you don't have many more options.  If you can come up with an extra couple grand right now to cut your losses that may be better off.  As opposed to them riding out the eviction process which may be longer and more costly at the end of the day.

Best of luck

@Theresa Harris Good point.  Even if people have to come into work a few days there will be some who will be willing to pay the premium to live in the big cities so that their commute on those days will be minimal.  There also will still be that desire to live in a big city once the threat of Covid-19 subsides.  It's just a matter of how long that is, and how long it will take for the big cities to bounce back.  I think it will take quite some time for that to happen though.

Hey Raymond, there are a lot of things you need to do obviously but one thing I would stress is make sure you take all the costs into account.  I think a big thing with newer investors is the oversight of some expenses.  Or trying to rush into getting a deal just to put there money to work.  Be sure you stay patient and analyze every house you look at thoroughly.  You don't want to go through the hassle of purchasing, renovating, renting for such a small return on your money.  You will find a deal just be patient.

Any specific questions that come up shoot me a message if you'd like.

Best of luck 

Hey BP,

So typically when I get a lead in on a house that there is not much value add for me and the homeowner is looking for retail prices I refer them to Bryan Karp.  However Karp does not go out into Nassau County, so I am looking for someone in Nassau who I can bring potential leads to and work out a deal with if they successfully convert that lead.

Hope to work with someone who is hard working because we are getting quite a few inquiries that we could hand off to someone who wants to put the work in and get deals done.

@Calvin Ozanick Thank you for your response and if/when I begin to look building an out of state rental portfolio I will check into Rock County, Wisconsin.  But my question is where to look to find key indicators that would bring investors to a certain area.  Such as population growth, jobs growth, etc. 

I agree with @Kenneth Garrett

If you are adding pluming, or appliances to the kitchenette you will almost certainly need a permit if you want to avoid any possible issues in the future.

Hey BP,

I am currently investing where I live so I know the market well and do not have to research metrics I otherwise would if I did not know the market very well.  My question is where do some of you guys look for those indicators as to choosing a market to invest.  I am not currently interested in investing out of state, I would like to continue focus on and do more deals in my  current market.  But it would be nice just to see what other opportunities are out there in the event I do decide one day to expand to out of state investing.

Any input is appreciated! thanks in advance 

@Kristian Conway Nice Job, all around!
I can totally relate to what you did with the rehab.  I did my first rehab myself which I quickly realized that it was great to get it done and have that instant gratification when it was completed however it took way too long.  Subbing out the work and managing the project will be much more efficient, and the way to go going forward.  

Goodluck on future investments!

@Calistro J. Garza Depends on your strategy.  If you'd like to scale and spread your money out across multiple deals the less you put down would be best (In my opinion the way to go).  But if your goal is to own a few houses and have them owned free and clear of any mortgages than as you know the more you put down would save you on interest costs.

Dealing with Brookhaven is a disaster (and we're pretty familiar with them), so we're trying to see if its worth it to get an expediter for Oyster Bay.  Will let you know if we come across anyone decent.