SF never once provided me a list of things in writing.So the moral of my story here is don’t think since you’ve made it through closing you’re out of the financial woods yet.With these two properties alone, we have spent over $20k in repairs that were required within the first 60 days of ownership.Best part is the insurance agent told me I had to make the property looked lived in…how do you expect me to finish the interior renovations (we removed some walls and gutted the kitchen; started before our priorities were redirected for us) when you’ve got me dealing with a bunch of “recommendations!”

Moral of the Story: no matter what you have or don’t have, minimize the chaos by knowing what you have or don’t have.... that’s true financial peace.

This is where I met GC and RE investor Mark Fries which introduced me to realtor Stephen Morales.

The moral of the story is, when it comes to making that initial offer, if you are unsure of the property value, go get an appraisal before you make an offer.

Why moral support? 

In the mostly low rental areas in NYC but are easy to get to Manhattan or good areas in Brooklyn, Landlords would rather rent short term than to rent to an unqualified tenant and potentially get into a court case, this is ASIDE from making better income on the STRs.That also reduces the supply of available apts.Other issues that has not been addressed but was touched upon when over-consumption was mentioned is that in these rent regulated buildings, there is usually a high demand for services, which will add to a landlord's expense, such as older residents demanding more heating despite conforming to heating laws (BTW, this isn't every landlord...

All the info is out there for public consumption.

I guess the moral of the story is to know your market.

@Ray Morales I don't know anything about real estate in the Philippines.

@Luis Morales Congrats and nicely done!