Why Does The Coli Hate Landlords and Landowners?

RhodyRum

Mark Gassed-A-Heaux
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I just wanna know :mjgrin:

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i just became one in nyc this weekend :blessed:...they sent their first months rent and security through zelle on the 1st :obama:

did you rent out a property you lived in or owned already or jumped in as an investor? I'm interested in the process of getting a mortgage for a property to rent out in the NYC area.
 

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Just like @filial_piety I became a landlord in May and the first standalone month of resent was just paid on Friday :blessed:

It was our first house and we needed more space. We were fortunate enough to be able to keep it and buy a house with triple the square footage. The first house is nearly paid off so all my tenants money becomes my money hopefully by this time next year since he signed a 2 year lease.
 

filial_piety

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did you rent out a property you lived in or owned already or jumped in as an investor? I'm interested in the process of getting a mortgage for a property to rent out in the NYC area.
I had a mortgage with a condo, and after I got married, the wife and I decided that we needed more space. So we were lucky enough to have the money for a house while being able to rent out the old spot. It took a while to rent it out tho...about 8 months, but we saved up and paid both at the same time. My tenants moved in on the 1st...i plan to hold onto it for about 5 years and then sell it for about 500k, pay the existing mortgage and hold onto a few stacks
 

filial_piety

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They gonna stay after you increase the rent 30% next year ? :troll:
no plans to lol...i'm not trying to be a dikk....it's a young single couple who just got married and are starting off in life...i've been there so i get it. If anything i'll probably raise it 50 bucks depending on how property taxes go...my profit margin right now is pretty straight
 

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I had a mortgage with a condo, and after I got married, the wife and I decided that we needed more space. So we were lucky enough to have the money for a house while being able to rent out the old spot. It took a while to rent it out tho...about 8 months, but we saved up and paid both at the same time. My tenants moved in on the 1st...i plan to hold onto it for about 5 years and then sell it for about 500k, pay the existing mortgage and hold onto a few stacks

is it a one bd. sounds cheap for NYC or is it in a non gentrified area if you don't mind me asking. I want to dip my feet into the real estate game but buying a place and renting is a risky game
 
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