Freedom First REIA, Ltd.

 


Freedom First REIA, LTD


FFREIA Membership

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Are you a landlord or real estate investor? Are you new to the game and aren’t sure where to begin? Freedom First Real Estate Investors Association (Freedom First REIA) provides many  membership advantages that landlords and real estate investors can benefit from.

Becoming a member of Freedom First REIA can help investors, landlords, and even people considering getting into real estate, gain knowledge about the job, the sacrifices, and how to help handle certain situations. Members have the opportunities to communicate with professionals who are experts in their fields. With the Freedom First REIA membership you automatically get a membership to National REIA that can give you access to even more tools and benefits.

Find the support you need as a landlord at our monthly landlord support meetings, whether you’re having trouble finding the right tenants or just want to connect with other investors. These session topics range from tenant selection, property management, laws and regulations. For investors, landlord or not, another group meets twice a month called Alternative Real Estate Investing Strategies (AREIS), where we discuss various investment strategies. Talking about strategies of buy & hold, rehab & flip, wholesaling and notes are just some of the topics.

Another great perk includes a monthly meeting on the second Thursday each month which is the perfect opportunity to network with other investors and learn from local experts on different facets of investing in real ... Read More…


Rent Control: A 2019 Recap and a 2020 Look Forward

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Housing affordability has always been an issue for our country, but its spread beyond the coasts and to middle-income households has increased momentum behind calls for rent control and other draconian measures as a “quick fix” to the problem. Much is at stake for our industry as more than half of the total number of apartment units nationwide are at risk of potential new rent control regulations.

In 2018, the industry spent more than $75 million to defeat a California ballot initiative that would have rolled back that state’s rent control restrictions. While the victory drew a line in the sand and showed the industry is prepared and ready to fight unwise and failed policies, another ballot initiative has already qualified for 2020. Moreover, two states enacted “anti-gouging” rent caps this year, setting a potential precedent for other states to follow. This memo provides a summary of actions taken in 2019 and offers a preview of what we expect in 2020. Suffice it to say, we have several fights on our hands in the year ahead.

2019 Review:

The year served as one of the most turbulent in recent memory for the multifamily industry, punctuated with major victories and defeats. The resulting rent control policies in 2019 have already led to a significant decline in investment in those areas as found in NMHC’s October Quarterly Survey. Here’s a look at where we saw the most action:

In February, Oregon lawmakers adopted the nation’s first statewide rent control legislation, capping rent ... Read More…

Press Release: Under One Roof Coalition

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For Immediate Release

February 12, 2020

UNDER ONE ROOF Coalition Urges Lawmakers to Reject
Good Cause Eviction and Universal Rent Control Legislation
Bill would hinder property owners’ ability to make improvements to
apartments and buildings, deter small business ownership, reduce
the availability of quality units throughout the state
ALBANY, NY – The Under One Roof Coalition today called on lawmakers to
reject the Good Cause Eviction and Universal Rent Control proposals that have
been introduced in the legislature.

“If this legislation were enacted into law, it would reduce the housing stock
across the state and deter others from owning property,” said coalition leader
Deborah Pusatere, a local landlord and President of the New York Capital
Region Apartment Association (NYCRAA).

“The Good Cause Eviction Bill creates a universal rent control model that would
be the most restrictive to date in the country. The amended bill caps rent
increases at 3 percent, an amount that would fail to cover tax increases,
inflation, annual operating costs and improvements required to meet
compliance standards of housing codes, ” said coalition leader Jaime Michelle
Cain, a partner at Boylan Code and Legislative Chair of NYCRAA.

Coalition members believe this proposal will lead to the decay of the rental
housing market. In states that have enacted similar laws, history has shown that
rent control decreases supply, reduces the quality of units and halts
development, while failing to add affordable housing units or ad ... Read More…


Rent Control: Should Landlords or Investors Be Worried?

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Not long ago, The Housing Stability and Tenant Protection Act (HSTPA) passed a law right before   the NYC rent control laws expired. Keep reading before you zone out wondering, “why would this matter in Rochester?”

Those who rent out property within New York State will be impacted. Part G and Part M in Section 1 changes the way housing providers can control, maintain and practice when it comes to multi-family housing.

Part G indicates that any locality in New York State can now enact rent control if a “declaration of emergency” is enacted around available housing apartments. Based off the Emergency Tenant Protection Act (EPTA) of 1974, a declaration of emergency can be made if there is a rental vacancy rate less than 5% in the area.

If you are a landlord or investor, this is something you need to take into consideration. There are ways you can get involved and help address the potential, unintended consequences. Under One Roof is a coalition of landlords, tenants and industry partners urging state law makers to look at all unintended consequences.  Get involved at Under One Roof here: underoneroofny.org to join and help the cause.

To learn more about the law passed, take a look here: https://nyassembly.gov/leg/?default_fld=&leg_video=&bn=A08281&term=2019&Summary=Y&Memo=Y

What repercussions do you anticipate?

*This information is not intended to be a full disclosure of the law passed, nor is it intended to provide legal advice.

... Read More…