The NBOA will be aligning all the property owners to communicate updates to advocacy efforts with additional calls to action so please join their email list • Applies to SFH, condos, 2-4 units, mixed use and large apartment buildings.• Allows tenants up to 9 months to purchase the building including 60 days’ notice before listing and up to 90 days after receiving an offer to decide to exercise their right of first refusal.• Building owners have to turn over detailed information about their operations and finances, and even share their rent rolls, leases, and P&L statements with tenants and the DOH.• Demolition fees of $60k and more wipes out decades of equity for distressed sellers. • You can’t vacate units without just cause and you are required to keep tenants for 6 months after closing even if they are MTM or their lease expires, eliminating owner occupied buyers.• Because of the long timeline, we can no longer execute 1031 exchanges.• The tenants have the right to sell the contract to a third party for a profit.This ordinance will drive out small, local owners, replacing them with cash-rich, out-of-town corporate owners.

It would be a shame to pay interest on the entire amount, if only part of funds are deployed.Thanks in advance for any tips on things we should look out for in loan terms, refinancing, etc!

Rental property taxes can be tricky, but you have a few solid options:1.

This could be too much to bite off as a beginner.

In the meantime, we offered space heaters so that they would be more comfortable.

So your first step should probably be to start analyzing markets here to find out which is right for y'all.

If you want to develop it, I can refer you a lender that will lend on a completed subject to appraisal but you'll be limited if you just want it for the lot.If you simply want the land as part of your property, you have more options including a HELOC which you can still use for development down the road. 

If the seller was also a builder and has plans, that could be a great shortcut, especially if they’re already approved or meet local codes.

It is easy to provide well-intended 'bad' advice.My questions to you would be... 1.

The builder offerred $15,000 credit to be applied, however you wished EXCEPT can not be used for price reduction.