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All Forum Posts by: Marci Stein

Marci Stein has started 207 posts and replied 931 times.

Post: Current rent rates in Poughkeepsie, NY

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

This sounds reasonable to me

Post: Ceramic tile or vinyl tile for kitchen?

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

Vinyl is so much less expensive than porcelain,  so I would go with that.

Post: Questionable Agent Behavior

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

Not sure how questionable these things are sounds like a new overly eager agent , 

but if you’re not totally comfortable with this person, why stay when there are so many choices?

Post: Buy or Sell In light of Capital Gains Tax?

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

I think the answer has a lot to do with what you might do with the money if you sell . $377 k free of taxes is no joke! I am heavily leaning in that direction

Post: Tenants Using our SFH as a Hostel

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

My states who is living there . I would not be comfortable with strangers sleeping in my home. This is a violation of the lease.

Post: Mentally unstable tenant now M.I.A.

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

I have the impression he is a paranoid schizophrenic, and if he is actively delusional, you could potentially be in danger. This is not a situation you want to be in . best that he live in a supervised home.

Post: Thoughts on Waiving Inspections?

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

I have waived inspections on a few purchases. I assume it needs almost everything, so the purchase price has to make it worth my while.  however, I have to be very familiar with the property and location. 

for me It has been a way to grab up properties that other people want who have more criteria. 

Post: North Adams, MA - from industry to arts

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

North Adams has a long way to go before it is not impoverished and flooded with crime and drugs. Whoever buys in that area is definitely looking at a very very long term  buy and hold situation, most likely with evictions in the process

Post: $10,000 against tenant pursue or forget about money owed?

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

Why would you not pursue it? 10 K is not a drop in the bucket .
I would not let it get to that amount next time. If they are late for one month I give them a three day notice.

Post: Non renwal lease form or letter?

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

I’ve decided to sell and not renew my tenants lease. However, I would offer her the option of staying up to 60 days after her lease ends March 1 , 

since she has been there 10 years.

Anybody know if there is a formal 

non-renewal lease form 

I should send, a regular lease for 2 months, or simply a written letter of my own ?
Thanks!