All Forum Posts by: Jimmy NA

Victory! I will toast to your win tonight!

Most of the reasons I buy rental property have been mentioned...but...
are few others...

1. Owning gives me options; a little control of my destiny.

2. I love the thrill of the hunt for the next property.

3. The satisfaction of improving something others have neglected.

Mike OH's post is hilarious.

I recently started to notice that one of my tenants was dumping the trash from her car (Newport cig. boxes, candy wrappers, plastics junk , Mcdonalds bags, etc.) in the same spot in the driveway of my 3 family. Now, of course I can not prove that it is a certain tenant that is cleaning out her car in the driveway, but she is the only tenant that consistantly parks in this certain spot AND smokes Newports. Suck it up you say.....well maybe I should but... it is blowing my mind becuase she is such a thoughtless pig. Do I mention it to the tenant or just chalk it up to my duties as a prop owner? I did find a note among the trash with a bank account number. I checked it against the tenants rent check, its a match so....chances are the trash is hers. Just don't know if I should accuse her or not?

Which is the better option for the interior stairs of my three family?

Which is the better option for the interior stairs of my three family?

One of my listings was stripped last week. It was vacant and someone kicked the basement door in and cut the pipes from the basement. Crazy thing, the house is on a very busy intersection and the entire yard is visible from the street. Damage: probably under $1000

We are experiencing a historic market correction. Read the the words of Dr. Robert Shiller. ( www.econ.yale.edu/~shiller/)

Do you want a pat on the back and a confirmation of what you already believe? Or do you want the opinion of another person involved in buying real estate? This is why we call it a Disciussion Forum. I still believe real estate is a great wealth builder. But to make predictions about the future is not wise at this time. Who's to say what a "decent" market will be in the future? To buy with the assumption that in a couple years a house will be worth X is pure speculation. We don't know what will happen this spring or in three years. To buy for the long run and for your family to enjoy the house is another approach.

The days of saying, "my house will be worth x% more in 3 yrs" are past.

Don't mean to rain on your parade but.......when is this "decent market" going to arrive by your estimation? In other words, it could be many years, or never, that the price reaches your hypothetical.

Also, you said the house is in great shape but needs a roof and "serious updating." Is it in great shape or does it need 100K worth of work?

Finish rehab on 2nd unit in my 2 family.
Rent 2nd floor of my 3 family.
Loose additional 3 lbs. (lost 17 lbs since Nov.1)
Convince bank to partially finance my facade renovation on my brick building.
:superman: