All Forum Posts by: Chris Szepessy

Sounds like a kid being a kid. Unfortunately I don't think there is much you can do, short of not renewing their lease when it comes time for renewal. I know most leases have a section about "the right to quiet enjoyment" but I don't think this would hold up well in court if you were to try to evict.

Just be happy the kid(s) are home and not out running the streets doing much worse things. There are times I apologize to my neighbors for how loud my house is over the summer. The response is usually similar to what I just said or "I think you have the most fun house in the area."

Also, like Mark said, add some soundproofing between the floors. Might be a little costly, but it will be worth it for you and any other tenant who lives in your apartment should you decide to move out.

I know someone who bought a $50k sports car (with cash) only to get married and have kids a short while later. He and his wife both now work 6-7 days a week to afford their house and other new vehicles, while giving up family time and other life adventures. The sports car just sits in the garage. As long as this isn't going to be you, then I don't see a huge issue with it. Personally, though, I would probably get my investing career under way before pulling the trigger on the car. Like other people have already stated on this thread (and other posts on BP), it might be a good idea to buy a rental or two or three and have the passive income from those make the payment on the car. Either way, it's a personal choice and you're going to get evenly mixed responses.

In 5 months, a lot of damage can be done to the fence and inside of the home, so you'd need to make a decision now. Just riding out the lease and not renewing isn't going to help you. How responsible do you think these tenants are? I have several dogs myself and tend to be pet friendly with my rentals, but a lot of times people are unaware, for whatever reason, the amount of time and effort it takes to care for a dog.

The time of year (Christmas) of them getting the dog seems as though it may have been a present, which is not a good thing. People get caught up in the moment and sadly, that dog is probably going to wind up in the pound in the next couple months anyway, whether you do anything about it or not. 

FHA multi-family house hack seems to be the best way to get started. You can lower your cost of living and get your feet wet as a LL for little money down. You're 21, so you can do this for 10 years (buy a multi-family, live in it for a year, and repeat every year) and probably have enough passive income to to be FI by 30-31.

I invest in NY (state) where we also have extremely high taxes. A lot of people do it because they're local and it's easier to manage. Also, some investors can make the numbers work, even with high taxes. Are you in an area where the RE is rapidly appreciating? Some investors are in it for the appreciation and not the cash flow.

@Jodin Concepcion Ancram is about 20 min from me. Unfortunately I don’t have any solid recommendations for the jobs you need done. It’s hard finding good contractors. I self manage my own rentals including minor repairs, so if I can be of any help, feel free to reach out. What has you investing in this area, if you don’t mind me asking?

You ever do anything with the land? 

That's awesome! I haven't played monopoly in years. I think my kids (10 and 13) may be getting it for Christmas this year now!

I had briefly looked into doing this, but since I have basic mechanic skills, I was looking at cars that needed minor work (brakes, tires, cleaning, etc.). One thing I found was that you MAY need a license if you sell more than X amount of vehicles in a year. There's probably minimal chance of getting caught, but something to keep in mind/research more. Certainly a good idea, though, to build up some funds.

I can't really help with your issue, but where in Upstate NY are you investing?