All Forum Posts by: Larry K.

agreed. Do not close. If they make it your problem then get more money to cover. 

I assume your contract had for the place to be empty and broom clean. Leaving their junk in the yard does not count. 

I like the idea and I think that area should work for that.  

Is the area zoned for mf? Do you have a parking lot? The city will want 2 spaces per dwelling unit. Just because you see other mf nearby wo parking does not mean that city will just let you up the density wo adding off street parking.  Best wishes. 

Stainless steel appliances.  So much money for such little benefit. 

yes you can. you may need to provide evidence of your ownership and your constriction plans and engineers drawings showing your intent for site. they won't just move it wo good reason. even then get ready to wait.  you cannot motivate utility companies.

the excact law on this will depend on your state. what does your attorney say?

imo, the security deposit belongs to the landlord until move out. think about how only the landlord can access it. 

The prior run up was fueled by easy loans.  The prices just kept leap frogging from sale to sale and refis. I don't think lenders are doing that this time around. My sense is that without the easy loans, there won't be a great run up. I think sellers just want to get back to what they had in 2007. But are buyers and lenders really going for this?

I think one day we will all forget those lessons but I don't think it will be this soon.

is the real crux of cap rates it's relationship to debt rate?

I had heard from a guy I really respect several years ago to get a 10 cap. this is currently laughable in my area. it occurs to me though that that may have been back when debt rates were about 7.

so then now with debt rates at 4 or 5, is a cap of 7 or 8 the new 10?

for my places if I had a tenant like you and the carpet was shot through no fault of yours I would pay for it contingent upon you providing additional security to the amount of the installation. if it is like new when you leave then you get back all security. the ll would have to do it anyway, right?

there are a lot of good strip vinyl products that look like wood and wear well.

good luck 

You bring up an insightful question here. It is hard to get around you being the one who is getting the equity and they are not. However, it is not your job though to maximize their gain. 

If they hire a realtor then that is the fiduciary of that realtor. 

You may want to consider tithing your profits and that may make you feel better.

Joe, 

Inspirational and informative. 

I remember you being from New York. Did you move for RE business reasons? if so can you elaborate? Thanks.