All Forum Posts by: Chris Masons

Thanks guys...

Colleen, From what it sounds like they remove toilet and vanity/sink and tape/cover the hardware than just spray it. Doesn't sound that labor intense VS replacing the tile via demolition and dealing with all that plaster and lathe behind those tiles. House was built in the 50s so I am sure there is a super strong "mud wall" behind that tile. they don't do that like they use these days!!!  :)

I thought about leaving the retro look and replacing the vanity and medicine cabinet too but not sure... If it was a different color other than pink I think I would be more inclined to try to leave it.

The kitchen is similar only it's white tile with black border on the first half of the walls which I think will be great and will leave that and figure out a color I can use that will play off that for the rest of the walls.

thx again,

Chris

Hi guys,

Closing on a 1950s single family in need of some TLC.  IE. old  pink bathrooms Etc...

Plan to hold as a long term rental for now.....

IW as curious to know if anyone has used the services of those companies that come out and reglaze your old tub and or tile. I have seen great results on tubs reglazes but how about on entire bathrooms done in 4 inch square ceramic tiles?

Any experiences good or bad? How have they held up over time? I wouldn't expect to get more then 5 to 8 years out of a tub reglaze but that is fine for my application. I am just want to make sure it will hold up at least that long and not fade, peel, crack Etc....

Enclosing a picture of the current bathroom....

thx in advance,

Chris

some lenders will do this and some won't.

I can attest to the fact he Wells Fargo will do this.

Good luck

Chris

Hi Sandy,

The process isn't any different if it's a Sheriff's sale or not. Owner/property manager needs to file the paperwork for a judgment for possession if for non payment of rent or for anything else one needs to file a notice to cease and than a notice to quit and than you may file eviction paperwork.

Once you have been awarded  judgment for possession you need to file the certification on same day and than wait 3 business days and file your warrant for removal. Once this is done they will be served and you can schedule a lockout with the county Constable.

They is a condensed version but that is the general idea. Of course there are many factors that can change the outcome but if it is a cut and dry case that is the basic way it works.

Hope this helps,

Chris

Hi Ron

I am a huge fan of RE investing and own far more assets in RE than i do in securities.

However I do believe in diversification and spreading my money over various asset classes.

That bring said, I continue to max out a company 401k and a Rorh IRA in edition to my RE holdings.

There are great advantages to both and which is better can be debated forever, however while RE investing/income is generally thought of as passive income it truly is not.where stocks,bonds, reits, MLPs are truly passive in nature.

To each their own. there is no better one in my opinion, it is what you are more comfortable with and better at.

Regards

Chris

Hi Michelle.

I actually max out my company 401k as this gives me an 18k deduction come tax time which helps me stay under the threshold to get the full 25k passive lost allowance with my real estate. Once you hit a certain amount of taxable income the 25k allowance gets phased out and needs to be carried forward I believe...

But I agree on your point one should max out a roth IRA as well or in conjunction with a corp. 401k

regards

chris

Eddie I look for a minimum. Of around 12% cash on cash return.

Thx

Chris

Hi Ed,

The stuff you will need to learn will definitely come naturally with experience. And you will learn a plethora of info here as well while you prepare for your 1st deal.

I actually work right across the street from Bryant Park (corner of 40th and 6thAve)

Maybe we can grab lunch one day.

regards,

Chris

Welcome Ed.

I think with your background, you have the potential to do great at REI.

I have been investing for about 15 years, I Started fairly young at around 23. I like to acquire long term buy and hold properties for appreciation and cash flow.  I self manage and work full time in NYC as a Sys Admin for a National financial services firm.

Are you looking for single families, multi families? commercial?

Anyway, welcome to BP. You will find a wealth of info here at your disposal.

regards,

Chris

Chris, it is hard enough investing in out of state deals. To target low end neighborhoods out of state with no experience in my opinion is a receipt for disaster in my opinion.

Why not target decent neighborhoods in NJ?

Beat regards

Chris