All Forum Posts by: Joe Jor

@Angel R.  While I don't know squat about Hazleton, and I would listen to Calvin's perspective, but maybe your sisters would Property Manage for you?  Throw them some money, everyone one is a winner. 

With that said, treat it like a business.  Write everything down in a contract, make sure neither side has any unstated assumptions.  Working with family can be hazardous to relations, especially if you are not 100% aligned or folks gravitate to the emotional side.

I would also ask to see detailed numbers on your sister's property. You want to make sure she isn't embellishing the situation.  "Trust, but verify" -Reagan (although Brandon Turner might have appropriated it!)

Lastly, maybe your sisters are looking for a new property; you could partner with them.  You be the money (or part of), they would be the day-to-day.

Just some other ideas to consider.  Best of luck in your hunt.

Joe

 

I am out of Westchester County, NY.  I am looking for any recommendations for Screen or Storm Doors providers that are also reasonably priced.  I will admit that the door is an unusual size (30x84) which may require a custom door. The companies I have looked at all start around $350 .  This seems very expensive for some aluminum and plexiglass.

Image is attached for what I am imagining; simple, basic, affordable.

Thanks for your thoughts and feedback.

Joe

@Mario Masseroli, That was retail on a buy and hold whose roof was failing, circa Summer 2015, so pricing data might be a little stale.

Joe

@Mario Masseroli, Only a small contextual help, but a new roof in New Rochelle cost $15k (including gutters) for asphalt shingle.

Just make sure you structure the contract so the contractors get paid when work is completed; you want to stay their highest priority.  BP podcast for 1/30/2020 had content about contractors and keeping them motivated.

Joe

@Marielle Walter, It is worth the Amtrak ride from DC to CT for a weekend (~$600?) to see the area and judge for yourself if it is what you are looking for. For an investment of this size/magnitude, I would want more information that Google/BP Users/Theory can provide.

To other's points, if this isn't a student area, you can scout out and identify where the student areas are.  If you are around on a Saturday night, you will see either kids or seedy characters (ok, I am exaggerating a bit).

In lower Westchester County NY, property taxes are easily $15k and up.  I don't think @Peter Nikic tax number is that off.  It should also be noted the CT's economy is stagnating a bit and they are slightly loosing population; just to keep in the back of your mind as it can affect rentability, taxes etc.

Tangentially, a great freakonomics listen on Rent Control:

http://freakonomics.com/podcas...

Joe

Thanks for all the feedback!  It looks like the line burped and we again have heat in that cold rad.  I will have to prepare myself for a move invasive repair when/if I ever need have to drain the system again.

Joe

Does anyone have a ceiling on their CapEx budget?  For example when your CapEx bucket hits $10k or $20k, this ~5% contribution instead goes to increased cashflow?  

I know ... a great problem to have!

Joe

@Judy Parker, Yup cranking the heat is a classic, I tried that one as well as pumping they system's PSI up to 27 lbs.  Unfortunately neither worked. :-/

Thanks for the ideas!

Joe

@Jim K.  I asked the plumber if there was some kind of snake that existed for the radiator pipes.  He looked at me like I was crazy!  I guess you and I were both thinking the same thing.  Thanks for the suggestion, I will give it a try.

I had never see this possible solution before.  I wonder if it would work.  I also don't know where it is being done as I have never seen a radiator pipe that skinny in NY.

Joe