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RoflcopterPilot posted:Thinking about buying my first rental property out of state (I know) am looking for additional research to be done or like a checklist of sorts. I've looked into this a lot and have spoken with several people doing something similar, as well as have access to a lot of real estate professionals, but I guess I'm looking for unbiased opinion to make sure my people aren't just "yes-man"-ing me hoping to get a piece. Hey fellow NYC person. I've also been looking for investment properties in the area. I would also suggest looking at properties in "upstate NY," (read: north of Westchester/Rockland counties) or even NJ/PA that would still be under ~2 hour drive. I think you'd be able to find something decent that you'd still be able to drive to in a day trip (assuming you have access to a car, if not you could do a zipcar and expense, etc). Being near a commuter rail might also be possible, but would likely be in a more expensive area. Since you have the cash on hand, you could also attend foreclosure auctions, and I'm confident you could find something at auction in that price range. PM me because I'd be happy to discuss in more detail.
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Jan 7, 2019 21:56
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Hey guys, I’m in the process of buying a building subject to rent stabilization laws. I’d like to gently encourage my long-time working-class tenants to leave so that I can renovate and raise the rents (and ideally attract more gentrified tenants). I’d appreciate any suggestions from anyone who has successfully handled similar situations.
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Apr 1, 2019 22:34
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Ruzihm posted:I don't know about raising the rent but if you want to get income for renovating that housing unit you could sell it to someone else as a condo, get general contracting licensing & insurance and then get them to hire you to renovate it. baquerd posted:If you can move in, owner occupancy often trumps any tenant rights and you can simply refuse to renew the lease. Then after a reasonable period of time, move out and get those rents up. Definitely talk to a local property attorney to avoid going to jail for this though. IamFuckMan posted:I have a suggestion but you won't like it
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Apr 2, 2019 00:21
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April 1st and you’d think you leftist shits would get the joke. And all I got was this catchy title. Public housing or coops are not attractive options for most tenants (at least in the US). What if a tenant can’t afford or doesn’t want to buy in when it’s converted to a coop? Many coops are poorly managed and financial pitfalls for owners. At the end of the day, the vast majority of tenants want a semi-professional landlord who is incentivized to maintain or even improve a building. IRL actually being a good landlord is difficult and involves hard work. It’s also not super lucrative unless you’re over leveraged, doing illegal poo poo, or working at massive scale (and then you run into financial disasters). drat, go protest in front of Blackstone or something and leave this place alone. Oh yeah in order to be a good landlord it also helps to have other experienced landlords and resources to turn to. Way to gently caress this place up.
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Apr 3, 2019 05:00
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