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Non-Tech : Investing in Real Estate - Creative Opportunities

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To: John Vosilla who wrote (2700)2/7/2021 5:33:28 PM
From: John Vosilla  Read Replies (1) of 2713
 
Pandemic Wipes Out Landlord’s Living
After taxes, utilities, repairs, and tens of thousands of dollars lost through unpaid rent amid the Covid-19 pandemic, landlord Galina Zalman said she made a total of $2,552 in 2020 — sending her to a food pantry as she struggles to keep three local rental properties afloat.

Zalman, who is 72 years old, and her husband Andrey live on the ground floor of a two-family house that they own at 33 Hazel St. in Newhallville.

In a housing market increasingly dominated by mega-landlords and their associated property management companies, the two Russian-born Brooklyn transplants are a rare breed: Owner-occupants and small-time landlords whose sole source of income is local real estate.

During an interview outside of her Newhallville home, Zalman told the Independent that 2020 made being a small-time rental property owner in New Haven nearly impossible.

Several of her tenants simply stopped paying rent as the Covid-19 pandemic took its economic toll, she said. One tenant who was behind on rent passed away. Another who was behind on rent is now in jail. A few of her remaining tenants have not paid in full or at all in months.

newhavenindependent.org
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