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All Forum Posts by: Marci Stein

Marci Stein has started 207 posts and replied 931 times.

Post: How illegal is this on a scale of 1 to Bernie madoff

Marci SteinPosted
  • Rental Property Investor
  • New York, NY
  • Posts 946
  • Votes 503

And when they refuse to leave , who pays for eviction ?

Post: Screening for booze abuse?

Marci SteinPosted
  • Rental Property Investor
  • New York, NY
  • Posts 946
  • Votes 503

As others have said, it’s not the drinking , it’s the  irresponsible behavior that comes as a result of drinking . That is seen when you screen tenants properly . 
if they have a pattern of broken agreements, job loss , evictions , 

debt , criminal justice involvement, etc , could be a sign of substance abuse / alcoholism.

more important  to look for those red flags than to measure their blood alcohol level 

Post: For Feng Shui believers- advice?

Marci SteinPosted
  • Rental Property Investor
  • New York, NY
  • Posts 946
  • Votes 503

Yes I know- and people are just dying to live in the area :)

Post: For Feng Shui believers- advice?

Marci SteinPosted
  • Rental Property Investor
  • New York, NY
  • Posts 946
  • Votes 503

Found a lovely 5 unit building today , on the corner of Pine  and Cemetery road . 
the cemetery itself is hard to see from the house , as it’s further down the road , but the road sign is  visible from every window. 

I would not buy a house with views of cemetery as I believe it’s not good for prosperity , but not sure about this set up . Would like to hear others thoughts about it - thanks!

Post: Cheapest rental you bought

Marci SteinPosted
  • Rental Property Investor
  • New York, NY
  • Posts 946
  • Votes 503

3 bedroom for 33 k . Plus new roof 7 k
tenants were there when I bought it 5 years ago , still there . Pays 850 month 

Post: Tenant wants a chicken coop....

Marci SteinPosted
  • Rental Property Investor
  • New York, NY
  • Posts 946
  • Votes 503

Seems like the cons outweigh the pros . Unless they’re great tenants, and you have difficulty finding good tenants, I’d say no . 

Post: Advice for managing "fear"

Marci SteinPosted
  • Rental Property Investor
  • New York, NY
  • Posts 946
  • Votes 503

Fear is just a feeling -
See if you can take an action , ( a small one is ok ), even if you’re fearful .
Don’t wait until you don’t have fear . It works the other way around- 

once you move into action , the fear gets less.
Secret : everyone has fear , to some degree .

Post: Just put a deposit on a sports car. Am I a complete dummy here?

Marci SteinPosted
  • Rental Property Investor
  • New York, NY
  • Posts 946
  • Votes 503

Just for me, I never buy anything I can’t pay for in full with cash . If I have to make payments , that would mean I can’t afford it

Post: tenant injured, part of rent will be late

Marci SteinPosted
  • Rental Property Investor
  • New York, NY
  • Posts 946
  • Votes 503

Follow your late fee rules on lease . 
There is no good  or bad reason to be late. Late is late. 

Post: I NEED TO FIND 80K FOR MY FIRST RENTAL PROPERTY!!!

Marci SteinPosted
  • Rental Property Investor
  • New York, NY
  • Posts 946
  • Votes 503

Also, a reality check on your 

finances . Not sure how realistic it is 

to think you can buy something for 

nothing.