Somesh Mukherjee
From Toronto, looking to invest in Buffalo & Rochester area.
20 May 2024 | 20 replies
I will give you some of my highlights.People in Texas complain about their property taxes at 3% ours are about 4.5%.New York in general and Monroe county specifically are very tenant friendly.Depending on the town, the code inspectors/police can be quite anal.Since Covid and the 2020 protests we’ve seen an increase in crime in the city and therefore weakening demand in the city proper and increasing demand for the suburbs.Industry is well diversified—University of Rochester (medicine) L3Harris (defense) xerox (IT) and paychex (software/hr)) and relatively recession proof.Population growth is low and therefore appreciation (except the past 4 years) has been moderate as well.There aren’t many builders in the area so supply is relatively fixed.Home (and rent) prices are both affordable with homes typically being less than 1/3 median household income and rent being similarly affordable.For single family homes at 8% rent will cover piti with about 100$ to spare in the A areas.
Bukka Levy
Using business credit cards to fund buy and hold. Help?
21 May 2024 | 53 replies
In the commercial & private money world its all fair game and case by case.Use of credit cards to purchase properties to acquire/capture equity, create, cashflow, provide additional tax shield/benefits against your income, and improve your real estate investing venture is definitely one way to go about it but it should not be the sole method since there are risks like many have mentioned above.If you're using business cards (linked to your FEIN - federal employer identification number) and it doesnt report to your personal credit then it might be more prudent credit wise because your Fico scores won't tank when you max a business card out versus a personal credit card (drop of 80-100 fico pts temporarily till you payoff).So with prudent timing (funds seasoning), knowledge of how to maintain your ficos so you still qualify for your cheaper conventional money, and how to use the cards to purchase can definitely expedite your REI journey.Most people I encounter would not have the know how to do it correctly as I see plummeting fico scores, in ability to qualify, and many other issues with using cards to invest on a weekly basis.Best of luck,
Sras Sath
Investing In This Market
17 May 2024 | 20 replies
And with the peak boomers retiring soon, the housing demand might weaken not long thereafter.
Dawne Morris
Need Refinancing advice
15 May 2024 | 13 replies
Maybe I'm not communicating clearly, I am employed I was only temporarily laid off.
Collin Hays
Games VRBO plays
13 May 2024 | 11 replies
The Pakastani agent told me that the pause in the YouTube videos is "temporarily permanent for now."
Amy Bailey
Primary Residence Rental during International Relocation
13 May 2024 | 4 replies
Looking for advice on how to maximize tax benefits on an upcoming conversion of my primary home to a long term rental (temporarily).
James Conaway
Section 8 renter approval criteria
12 May 2024 | 9 replies
Tenants will bring in family members who are temporarily/permanently homeless, single moms will bring in new boyfriends, daughters who produce children will have a tendency to drop their offspring off with grandma and grandpa to raise, etc..
Douglas Gratz
What is the new construction process? Dig lot, pour concrete, etc
14 May 2024 | 201 replies
I added the budget to my rental website (temporarily) so you can click it and it will enlarge enough to be able to see it Budget per 1 house This is the budget for the build (it does not include all other cost associated with the project like soft costs and the like).
Joshua S.
Velocity Banking / HELOC Checking Acct - It Works (Proof)
6 May 2024 | 76 replies
Money that you DO end up using toward bills temporarily "leans" on the mortgage balance keeping it down and limiting the amount of interest you will pay. 4.
Alexandra Joy
Tenant asking for personal favors
4 May 2024 | 35 replies
For the rest of her term set your boundaries and set expectations upfront with the next tenant. sometimes temporarily ignoring can be a good strategy.