U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > New York > New York City
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 05-15-2017, 01:30 PM
 
Location: NYC
11,818 posts, read 7,695,291 times
Reputation: 12811

Advertisements

How is it not true? I personally know many landlords who had to deal with evictions and freeloaders that file complaints to delay rents in many case they find a problem that cost the landlord too much money they just let the freeloaders live or cut off the heat until they got tired of living there or pay them off to move. It's a known system that many freeloaders make money by holding out til the landlord pays them off to leave.
Reply With Quote Quick reply to this message

 
Old 05-15-2017, 01:49 PM
 
Location: New York, NY
624 posts, read 701,731 times
Reputation: 439
Quote:
Originally Posted by Forest_Hills_Daddy View Post
Robert Koyasaki's business formula was supposed to be simple
Robert Koyasaki is a fraud and a charlatan.

Quote:
- acquire rental property with loans, pay down the mortgage, and live off the cash flows when the mortgage was gone. Why then are landlords witholding repairs and maintenance from their tenants? Is it frequently the case that landlords become tight on capital?
Its not easy at all. Being a landlord is a lot of work and risk, especially if you own multiple properties. You need to pay for all repairs and maintenance. You need to handle problem tenants. You need to pay legal fees everytime you have a legal dispute. You have to deal with all manner of strange regulations and laws which almost always favor the tenant. You need to pay for advertising and marketing to get tenants. You need to pay real estate taxes every year. Every month your units are vacant you're not collecting rent and still paying the mortgage. If you have someone not paying rent and start the eviction process, good luck getting that money back once you finally have gotten them out.

Finally, NYC is one of the most efficient real estate markets in the world. You're swimming in the same pool as some of the smartest and best investors in the world.

Most real estate markets in the country are priced such that after your mortgage and monthly expenses you'll be lucky to even break even on a month to month basis at full occupancy. That's not even counting repairs and the other random expenses.

Nothing in this life is easy, but there are plenty of fraudsters like Koyasaki who will love to try to convince you it is. Only after you write a check for their next book or seminar of course..

Last edited by fmatthew5876; 05-15-2017 at 01:58 PM..
Reply With Quote Quick reply to this message
 
Old 05-15-2017, 01:54 PM
 
64,551 posts, read 66,100,109 times
Reputation: 42988
i agree
Reply With Quote Quick reply to this message
 
Old 05-16-2017, 08:59 AM
 
Location: Manhattan
20,134 posts, read 26,416,255 times
Reputation: 9026
I suppose you could buy houses now while they're relatively cheap in neighborhoods like south Bronx


Or Allentown.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:



Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > New York > New York City
View detailed profiles of:
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top