All Forum Posts by: Dan L.

So if you took possession the 16th, did the previous owner give you half January?  You could go back to them and see what they say.  You had an attorney at closing?  They should have included that prorated money. As well as the security deposit.  Is the tenant claiming to have paid January?  She have receipts?

I would just say rent is due the 1st and give a 21-day grace period.  Getting reliable yet late money is better than unreliable on-time money IMHO.

#1 Tip: Assume everything is twice as hard as you think, but it's twice as rewarding once stuff starts churning 

For now we just use popmoney, goes right into the account.  Will need to switch soon to something more scalable.  I definitely don't want cash, but occasionally make an exception to make sure I get it before they spend it!

I just bought a 1930s C+ Class SFR as a rental that has "4 bedrooms", all upstairs. The bedrooms are 53 sq ft, 73 sq ft, 91 sq ft and 86 sq ft. 3 of the 4 rooms have no closets... The 86 sq ft one has a large walk-in closet, so I'm considering that the master bedroom. Obviously the 53 sq ft one is too small... But how about the other 3? I could: a) open the wall between the master and 53 sq ft; b) make 53 sq ft a bathroom (much more money but could be worth it since there are none on 2nd floor); or c) l could leave it as a "bonus room". But 86 sq ft is too small for a master bedroom, right?

Thanks David!  Yeah I like the idea of a runner going up there.  Thanks!

Hi All... Looking for low-cost rehab ideas for a C+ rental, for this staircase.  The railing is old...Can it be painted, if so what type of paint?  Or do I replace it?  And I'm not a fan of carpets in a rental, any better ideas?  Otherwise I'll just get a new carpet.  The house is from 1930... I don't know (yet) what's under the carpet.  Thanks

I've asked...  They say "a difference in opinion" and that they "are not at liberty to disclose" and are "respecting the seller's wishes".  They also strongly objected when I referred to it as a "failed inspection".  I wasn't sure how to interpret that!  It's a 90 year old house that the homeowner died in 2 years ago.  So I'm a little leery about how (poorly) it was maintained.  But it's a good price in a good neighborhood, so I want this deal to work.

Thanks for the reply.  So if I "get" what you said right....  I should not be concerned, since if the previous deal failed due to a problem with the house, they would be telling me?  Perhaps the deal failed for another reason... Like buyer funding or seller in prison...

Question: In New York State, if a house was under contract but didn't end off being purchased (most likely a failed inspection), is a listing agent obligated to disclose to future buyers what happened?

Thanks.... Good idea, I think I will ask the town.  Was just seeing if anybody had ideas for seasonal beach town properties.  I could do what most people do and just build housing and sell them. But was looking for something that would give an ongoing 'passive' income, yet can survive the seasonality.