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30 December 2024 | 15 replies
Meaning you cannot just evict a tenant because their lease has expired.You will have to build sufficient evidence admissible in court and to the satisfaction of a judge to prove good cause to get a warrant of eviction.Many housing providers kept high risk tenants on month to month leases so that if the tenant stopped paying rent, you could simply give them a notice to vacate and recover possession of the rental unit that way.The reason for this methodology was because the HSTPA of 2019 passed in NYS made it extremely onerous and costly for housing providers to evict due to non payment.That method under good cause will be eliminated.So you can still keep tenants month to month but you will need to document the lease violation due to nonpayment rigorously.How many times and how late is “good” enough?
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4 January 2025 | 28 replies
Although we could continue to add to our Self Storage investments in the US.
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28 December 2024 | 12 replies
I'm looking at Class B properties in up-and-coming neighborhoods and plan to self-manage once I relocate.
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30 December 2024 | 6 replies
The right idea is going to be the bread and butter.1) Ideal location2) Quality properties over quantity of properties3) 1.25x DSCR4) Intention to hold no less than 8, but ideally 12+ years.5) Sufficient cap reserves6) Mechanisms to enhance cash flow(via alt investing or house strategies).7) Liability protection through no PG loans(if possible), LLC formation, property management and being a diligent landlord.8) Invest deeper, before wider.Now if you're talking where to invest, different information.
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13 January 2025 | 45 replies
Remember, the notion of amassing wealth without investing is a dangerous myth perpetuated by self-proclaimed experts.
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30 December 2024 | 7 replies
Admittedly, they seem a bit sketchy,My question would be, for a person such as my self, how does one go about vetting these syndicates?
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28 December 2024 | 1 reply
I borrowed $110K from a private lender for the purchase and self funded the repair of the offices. 3 months later, I rented 6,000 sq.ft. of office space to a corporation for $21,000/month + utilities for 5 years with another 5 year option.
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14 January 2025 | 17 replies
And I wouldn't expect them to, it's a self inflicted thing.