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All Forum Posts by: William Przybyla

William Przybyla has started 4 posts and replied 9 times.

Post: Finance Good idea or Bad Idea

William PrzybylaPosted
  • Investor
  • Dayton, OH
  • Posts 9
  • Votes 6

I am looking at a commercial property to purchase, but I need to figure out how I can leverage what I have in order to make ends meet, this is my situation below:

I own a duplex outright. Total Equity conservatively speaking is $135,000.

I own a 4 unit that I used an FHA loan for 3.8% and I have to pay PMI through the life of the loan (around $79 per month). I have $101,000 left on the loan. Property value is $215,000.

I own a duplex that is $125,000 left in the loan. Property value is $340,000.

I have 60K in cash with setting aside for reserves.

The property I want to buy is around 400K for 5 units and would cashflow $1800 per month after expenses. 

I am contemplating doing a cash out Refi of the duplex that I own outright to put what I need down on that property, but then I started to think a bit more about this and thought would it be best to Cash out refi and pay off the loan of the 4 unit so I am not paying PMI any longer, then cash out refi that property, pay off the other duplex, then cash out refi that property and buy the 5 unit commercial building. This feels like I am over complicating the situation a bit, which is why I have come here for some sound advice. Please let me know your thoughts on this.

Thank you in advance.

Post: What would be the next move...

William PrzybylaPosted
  • Investor
  • Dayton, OH
  • Posts 9
  • Votes 6

Hey Gang,

I have asked for advice to a lot different people (realtor, financial advisor, property manager, other investors in the area) about what I should do for my next move as I have read about a few different strategies on how others invest or continue to invest.

So a little background for me I have house hacked everything that I have. I started on Ohio State's campus and bought a duplex, which cashflows $800/month. I then got transferred to Dayton, OH and the Columbus property has worked out so well I bought a 4 unit/1 BR apartment building (I lived in one unit fixed it up and then rented that out and moved/fixed up another unit, until it was time for the next adventure). This cash flows $1000/month. I then bought another duplex, which I fixed up and paid off just this past year and that cash flows $1320/month. After living next to my tenants for 6 years I decided that I wasnted some privacy and purchased a SFH that needed some work close to University of Dayton's campus, with the thought that I will outgrow that property and I will move and put it up for rent.

The problem that I am currently running into and unsure what I should do next is the dreaded Debt to Income ratio. I work a good job and bring home 70K before taxes, I have the properties, which cashflow a total of $3120 and I own another business that puts on running events, which brings in an additional 22K per year. The goal is financial freedom and no longer having to work my 9 to 5 job.

With all of that above I am having problems figuring out my next move: Is it best to pay off one of the mortgages like the 4 Unit? But then I have read why would you do that when you should just be letting the tenants pay off that mortgage. So do I save to buy another property with a large deposit? My fear is that I have to get rid of some of this debt in order to get my next loan, which by my calculations if I put a decent chunk in most months shouldn't take a long time, but I would prefer to do things properly, rather than having someone ask why did you do that and be uncertain.

Thank you for taking the time to read and potentially respond, looking forward to hearing some of your own thoughts.

Post: Potential Security Deposit Lawsuit

William PrzybylaPosted
  • Investor
  • Dayton, OH
  • Posts 9
  • Votes 6

@Mike McCarthy Yea, I have proof or everything deducted. Regardless if they do get a lawyer I will run up that bill through mediation, but they now live in Cleveland and they would have to come to Dayton multiple times. I just don’t see anything coming from it.

Post: Potential Security Deposit Lawsuit

William PrzybylaPosted
  • Investor
  • Dayton, OH
  • Posts 9
  • Votes 6

@Percy Matsunaga I agree I think the only argument made could be the blinds, but I have receipts and pictures to show. Just dealing with someone who is very entitled. I lived in one side of the duplex and moved into a SFH to house hack and rent out later. They yelled at me because they thought I would be living next to them for their life of the lease. Some people...

Post: Mortgage vs. paying off a property

William PrzybylaPosted
  • Investor
  • Dayton, OH
  • Posts 9
  • Votes 6

This is quite easily the biggest argument. I find myself flip flopping. Biggest piece on the finance side is that your upfront cost out of your pocket was anywhere from 3% (FHA)-20%+ (investment property). The question you could ask for the 100K house would you want 1 property that cash flows X or potentially 5 properties (if you can get 5). But then you do have to worry about vacancies as the banks will always come knocking on the 1st of the month, but this is why you should be saving towards your CapX.

I personally own 3 multis (2xduplex and a 4 unit) And I take all the rental income and pay down the principle as I still work a 9-5 that pays for living, so I am still using the tenants money to pay down the mortgage and if there is a vacancy it isn't as high of a payment. 


Again, I don't know if this is the right way...but I need to get out of what I call Debt to Income hell.

Post: Drug dealing adopted tenants

William PrzybylaPosted
  • Investor
  • Dayton, OH
  • Posts 9
  • Votes 6

How much time is left on the lease? The easiest way might be negotiating a buy out and pay them to actually move out of the property. Pay upon departure and agree that it is left in decent shape. I think that this in certain instances can be a win/win. Now if they have no desire to move...then you either have to wait for a slip up of rent or get proof of violating the lease, but this means going through an eviction process. I wish I could be more help.

Post: Potential Security Deposit Lawsuit

William PrzybylaPosted
  • Investor
  • Dayton, OH
  • Posts 9
  • Votes 6

This is the first difficult tenant I have dealt with and they are threatening a lawsuit. I followed everything that Ohio Tenant laws claim.

This is the email I sent:

I hope you and XXXXX are healthy, safe, and enjoying the new home. Here is the rundown of the financials and the check is going into the mail after this email is sent.
Total deposit was $775 after a walk through and inspection. Below is what was fixed and deducted.
There were a total of 4 blinds replaced, 3 of which were completely missing and 1 that had a few broken blinds in the 2nd bedroom. I understand that we had a mutual agreement to put blinds up in lieu of rent decrease to cover those costs early on in your lease, but it seems as though those blinds didn't stay with the property.
We had to hire a cleaner to clean: the refrigerator (inside, on top of, and underneath), the inside of the oven, shelves in the kitchen cabinets, tile in the shower still had hairs on them, windows, and all of the hardwoods needed mopped.
The shower curtain rod was taken down and is now not functioning, but I am not faulting you guys for this as it just might be a poor product as it came with the house upon purchasing, but was functioning properly upon the lease agreement.
Lastly, you left the box spring and broken futon in the front yard, which I had to hire a company, "Junk King", to come out and remove/dispose of it.
Obviously, we agreed that the Laundry machines would give you a $100 credit.
Junk King: -$205

Blinds installation/Time & Materials: -$88

Cleaners: -$250

Laundry Machines: +$100 credit
Per our conversation over text Saturday, February 22nd the release of the lease was granted for you to move out May 31st, which you paid through the 23rd as monthly rents go from the 24th-23rd of the next month. That prorated rent unpaid for the 24th-31st is $200. $775/31=$25/day.
Again, the check is going to be put in the mailbox this morning, I would expect to see it in a few days.

This was the response:

In reference to your previous email, we have found your assessment to be unsatisfactory because of the following reasons:

1. The blinds on the second floor was already broken and taped when we moved in and the broken pieces gradually fell off during the course of our time there. Additionally, we bought four sets of blinds, 3 of which were installed on the first floor and the fourth is in the basement in the box. The four blinders were reimbursed by you which we appreciate very much however you did not reimburse us for the installation of the three blinds, which is $100.

2. Concerning the cleaning: When we moved in, we found the house somewhat clean, but we still found trash in the basement and a lot of dog fur and debris in the air vents which we had to clean. We found some vomit around the joint of the sink and counter which was unpleasant for us to clean. As you can see, we believe we left your house in better shape than it was before and we communicated to you the things that needed repairing along the way. We made sure your house stayed cleaned when we left.

3. The shower rod was indeed defective, as you surmised, from the beginning. It fell repeatedly (several times a week) but eventually we got it to stick somewhat properly. However, I suggest you have it replaced for the next tenants.

4. The box spring: Since we were not able to set up our normal bed because of the dimensions of the stairwell (which you did not warn us about), we agreed to place it in the garage. When we took it outside during our move, we realized it was damaged by water, dirt, and insects. We decided not to take it with us and offered to the next door neighbors who stated they wanted it. Therefore it no longer belonged to us after we moved. If they put it on the front yard, that is something you will have to discuss with them.

5. We informed you several weeks prior that we would be moving out on the 23rd, which we did. I informed you the day that we moved out and left the keys in the mailbox. Therefore, we should not be charged for rent through the end of the month.

6. One additional issue we would like to bring to your attention is that Gustavo set up a work out area with foam floor mats in the basement which were damaged by the flooding caused by the gutter not being fixed when we initially brought it to your attention. These mats were quite expensive ($40-$50 per piece x 15) and now have a musty odor which we have not been able to remove

Should I be concerned? Also, regarding 6. we live in a valley and this home is 80 years old and has an unfinished basement that does bring in some water when it rains a lot.

I granted an early release when there was a clause that said complete loss of security deposit...I feel like they have nothing to negotiate, but again this this the first time I have been threatened with a lawsuit. They now live in Cleveland and I am in Dayton, any advice would be great. I at least hope you loved reading the drama.

Well there are a lot of different things going on as we have been emailing back and forth.

1. I am no longer in the apartment and left it beautiful

2. the lease we signed was actually for the apartment next door, which is under lease by another tenant who lives there currently.

3. I asked what will happen to my security deposit if I pay September in full will I get it back as I stated that she could keep my security deposit for this months rent and pro-rate my September's rent from when I left.

She said that she won't answer what would happen to my security deposit until she has received my rent for all of September, which you can't withhold that information and the lease, which does have a clerical error on what apartment we agreed to.

She is threatening to go to legal proceedings if I don't get her the full months rent. 

So I was transferred due to work, in which I was leaving the apartment in which I was living and moved across the country. With this move I said that I would pro-rate my rent and she could keep my security deposit as my lease agreement just asks for 30 days notice. She claims she wants all of the month as I left on the 4th. First makes claims she will file and eviction notice as I said she can't file an eviction notice for someone who has left the property, then she says she will hold onto the property through the life of the lease so I am forced to pay the life of the lease. Can she actually do this? 

Also, with her stating this I did look back at the lease and she wrote down the incorrect address on the lease in which we signed and there is nothing in the contract about what happens if you break a lease.