The Official Homeowners Thread

[intruder]

Why did I read that in a Haitian accent?

My parents bought two multi families (one in BK one in the Bx) and they hate being landlords (all of their tenants are Section 8 and none pay their portion of the rent) and fully discourage me from becoming one. However, I'm already wanting my next property and I want it to be a multi family.

The thing is, NYC is way too tenant friendly. Its hell getting a degenerate out housing court is too fukked up

I'd never rent out to renters in NY. I heard stories of tenants not paying rent for over a year for whatever reason and you can't kick them out.

I'm in GA and your rent money is due on the 3rd. If your rent money isn't paid by the 10th your stuff is out on the street on the 10th. And I mean the sheriff comes and takes all your shyt and put it on the curb piled on top of each other regardless if it's raining

 

[newarkhiphop]

What kind of features and accessories do you guys look for in an alarm system/company?

Any recommendations for a single woman living alone

Two options I would recommend

1. Simpli Safe, there a DYI security system that is you buy the equipment from them and install it yourself. None of it requires wiring it's all peel and stick. There monitoring runs I think $15 - $20 a month or so, no idea on the details of there monitoring. No contract.

2.ADT security, which is what I have, they come and install all the stuff for you, yours basically financing the equipment from them (from $1k up depending on what you get), they monitoring runs from $30 - $100 a month. Your on a two year contract.

It really depends on what type of neighborhood you live in, I got setup soon after I got my new place so in the panic afterwards went and got adt, it's been a good system so far, have had 3 or 4 false alarms which have been annoying and it's the main complaint about them your going to read but I haven't minded it, I also have fire monitoring with them.

If you live in a pretty good place and are just worried as a female and have some tech common sense I would get Simpli safe and some good wifi cameras

 

[Azul]

I'd never rent out I NY. I heard of tenants not paying rent for over a year for whatever reason and you can't kick them out.

I'm in GA if your rent money isn't paid by the 10th your stuff is out on the street in the 10th. And I mean the sheriff comes and takes all your shyt and put it on the curve piled on top of each other regardless if it's raining

I need to find a crib in places like that

 

[Egomaniacal1]

i have a four unit property, i live in one and rent out the other three. i don't have headaches, i mean the hardest thing is keeping on top of leases/renewals and dealing with re-renting them when i have a vacancy. vet your tenants, set rent prices at a level where people feel like they're getting somewhat of a deal so they don't both you as much. i could easily charge 2500 a unit, but then i'd have to meet 2500 expectations, by charing 2200, people are happy to be a bit under market norms so they live with less responsive service

Damn where you live at brehetta?!?! I would kill to get that amount of rent per unit from my rentals. How much was your quadplex?

 

[dora_da_destroyer]

Damn where you live at brehetta?!?! I would kill to get that amount of rent per unit from my rentals. How much was your quadplex?

Oakland...gentrification is a bytch, but I'm gonna take advantage of it they're 2bd units, bought it for 725

 

[el_oh_el]

Signed contract last week. House inspection today, appraisal later this week then hopefully it's off to underwriting. Fairway has pretty good reviews so I'm hoping I have already gathered most, if not all, documentation needed

 

[Family Lives Matter]

Anybody gone through the auction process?
If so how was the experience?

 

[dora_da_destroyer]

Anybody gone through the auction process?
If so how was the experience?

i'd like to learn more about this, but out here, i don't think "normal" people have a shot at auctions, at least not in desirable markets, way too many people/investors with 100's of thousands in cash ready to pounce.

 

[el_oh_el]

I hate how this thread is slow when I'm finally joinin the club
On another note, finally close this Thursday. Brand new roof installed on the Tuesday before

 

[dora_da_destroyer]

funny how quickly tenants forget the shyt you've done or let slide when they wanna fight about security deposit deductions. you want to be treated "fairly" i just deducted $100 less than what you should have been charged (broke down costs the alternative way just so they can see that i actually gave them a deal), let you out your lease early with zero contingencies or fees attached, and let you slide on two major lease violations - trying to move in a new tenant without going through the application process and adding them to the lease and having a pet when you signed a lease that said NO PETS ALLOWED.



my nikka, don't act like dre and them who got the rock bottom handyman/painting prices and rosita who's an undocumented worker are going to have sophisticated accounting and invoicing...i easily could've went with vendors who have that, but you know what, they charge 2-3x more...you'd be outta pocket more dough

 

[dora_da_destroyer]

funny how quickly tenants forget the shyt you've done or let slide when they wanna fight about security deposit deductions. you want to be treated "fairly" i just deducted $100 less than what you should have been charged (broke down costs the alternative way just so they can see that i actually gave them a deal), let you out your lease early with zero contingencies or fees attached, and let you slide on two major lease violations - trying to move in a new tenant without going through the application process and adding them to the lease and having a pet when you signed a lease that said NO PETS ALLOWED.



my nikka, don't act like dre and them who got the rock bottom handyman/painting prices and rosita who's an undocumented worker are going to have sophisticated accounting and invoicing...i easily could've went with vendors who have that, but you know what, they charge 2-3x more...you'd be outta pocket more dough

sent a very long reply, and he promptly shut the fukk up

 

[AceAge]

15 year, 20 year, and 30 year obligations all sound terrible to me, but I guess it's better than just keeping up with rent.

 

[mannyrs13]

I'm going to go for a pre approval check a bit later. Doubt I'll get approved for more than maybe 150k but still something to build on. Anything I should ask the guy? He said to bring bank statements and tax papers. My credit is nearly 800. I have minimal debt. Only issue is my brothers car from last year but it's in good standing and I asked him this morning when he planned to refinance it. Already got mine paid off. What should I discuss with this guy?

 

[That Good 510]

I'm going to go for a pre approval check a bit later. Doubt I'll get approved for more than maybe 150k but still something to build on. Anything I should ask the guy? He said to bring bank statements and tax papers. My credit is nearly 800. I have minimal debt. Only issue is my brothers car from last year but it's in good standing and I asked him this morning when he planned to refinance it. Already got mine paid off. What should I discuss with this guy?

Discuss interest rates, how long the process is gonna be and see if there's any government programs for 1st time home buyers.

 

[el_oh_el]

Been in and out the house for the past week. First owner was an older guy who's wife passed. They owned the house since they built it 11 years ago. Story was pretty bittersweet. His bro came out from LA to help him move back to his home town where he will spend the rest of his days..
Getting ready to pull up the carpet and lay some luxury vinyl plank tomorrow. Anyone else tackled this before?