All Forum Posts by: Zoltan Fagyal

@Ngozi Iroezi, I put it up on a Google Sheet, added credit to Jon Crosby.

https://docs.google.com/spread...

Hi @Chris Roche . I highly recommend Bill Roberts  (Home Ventures), a truly fantastic guy with integrity and great connections.   (781) 817-3551

Agreed @Nathan Gesner It was the case here as well. The tenant said she would like me to do this and even though I didn't have a face-to-face conversation, the letter did the trick. I wanted to do this because I want my tenant to stay as she is a great tenant and I wanted to have this experience and it felt great solving this for her. 

Celebrate your successes, no matter how small!

I just wanted to provide an update here. 

I ended up writing a nice letter to the neighbor above my tenant and my tenant said that this helped to resolve this and she is happy.

In case someone else may be in this situation, here is the letter I wrote:

https://docs.google.com/document/d/1fKY3WzQTdzl6S8...

I used some of the negotiation techniques I learn from Chris Voss' book and seminar. The book is called  Never Split the Difference. This is the best book I have ever read on this topic and one of the best books overall.  

@Kent Byron , I have met but not worked with these PM's yet, but based on my meeting with them I would work with them. They are both in RI but service MA as well:

Lyon Property Management - Jim Murray

Peace of Mind Property Management - Stacy

Good luck!

@Jen Harwood , thanks so much for your input. I feel that I want to help her since she is such a great tenant and maybe I could do a better job since I'm not emotionally influenced, but you are absolutely right about this resonating more strongly coming from her. I didn't think of this. 

Thank you again, for the very valuable input.

I have a really good tenant whom I'd like to keep happy, as much as possible. She is renting a condo from me in a 3-story building. She is at the lower level. 

She sent me an email the other day, she says "I've been trying my hardest not to mention it but it is getting worse and worse. The couple upstairs from me are so loud. They must have hardwood floors without a rug. Between walking and playing with there baby the pounding is getting so bad. 

I've come home and all my pictures are slanted and wine bottles have come off the rack off the wall. The sliding door raddles so hard I almost thought it would break. 

In the morning the kids room is above mine and must be playing with heavy blocks because it wakes me up almost every morning. I've really tried to be patient but I can't take the pounding anymore..."

I would like to help her as much as I can. Do you have any recommendations or ran into a similar situation you were able to solve?

Would you take on the responsibility of talking with this neighbor or let the tenant sort it out if she can?

The main reason for an LLC is to protect yourself if something happens or get sued for more than your insurance covers you.

IE: you get sued over any type of liability issue, fire, etc. You would be liable for everything you own personally. (except for you have a Declaration of Homestead if it exists in CA, we have it here in MA up to $500K).  So, in theory, all properties on your name are fair game if you lose your case and the amount is more than what your insurance would cover.

If you had the 3 properties in separate LLCs, then your liability would be limited to that one property that the LLC owns.

I hope this clarifies it a little.

You're depreciating the actual cost of the property. Generally, it's done over 27.5 years. 

The caveat,  if you sell it without a 1031 exchange then you will have to pay capital gains tax on everything you have written off and claimed. 

I hope this clarifies it a little.

Hi,

We’re looking to purchase a condo in the Bartlett, NH area. I already own a few condos in MA (not vacation rentals) and I’m familiar and comfortable acquiring condos.

I have already done a good amount research on AirBnB, HomeAway, etc. about rates and read forums here on BP and have been doing some calculations, etc. I found that in theory a property could be rented almost year around. November and April being the slow months.

I live about 3 hours away so this would be a remote operation. I would hire a PM company to manage everything locally and I would “help” market the property and have it rented.

I would be very curious to see if anyone has any specific experience about average occupancy rates either by season or annually. Also general thoughts about this.

At this stage of my life cash on cash return is more important than having a place to visit, but if the cash on cash return is there (I’m looking for 10% or more) why not consider it?

Thanks for any and all your help.