All Forum Posts by: Larry K.

Not sure about the neighborhood but for the numbers only, this is a very good deal.

Since it is your primary residence you wont pay any taxes. This is a great way to go.

I think you are on the right track. In the State of NJ it is your right to require a security deposit. I think it is 1.5 months rent. Look for the "truth in renting guide" online.

I happen to be an employee with an large commercial real estate owner. Registered Architect but I landed here.

The people I see day in and day out who are making real money (aside from the company owners) and seem to have really happy lives are the owners of the trade contractor companies (HVAC, Plumbing, Electrical, Flooring, Elevator, etc.)

The money and lifestyle is with the company owners then passes over the employees and then shows up again with the trade contractor owners.

So then I second what others have written here... be very careful about getting trained to be an employee (ie going to college, get a degree, put out a resume....). You just might be better off putting that money and time into starting a business.

If you are local then manage it yourself. You'll learn the process and will really get to know the property and the tenants.

The software that Joel Owens suggests is very good. I have that same one. But really I ended up creating my own spreadsheet with excel and use that software for presentations.

The math is not that hard. Check Ali Boones recent article about "back of napkin" analysis. Use that first so you can understand the numbers from the "ground up". Then you can use the software if you like to corroborate your numbers.

The "game" that is played in NYC is to

-buy a rent stabilized building that has existing low rents, make improvements that justify increasing rents (the city keeps an eye on this and there are formulas the developer must follow),

-renew leases at higher rents (some LL will make stabilized tenants life's miserable so they will just leave),

-manage it better (for the owner anyway).

Overall to boost the Net Income, then via the low cap rate (which is good for a seller) to sell it to someone looking to park cash (as someone else said) or to refi and pull out the increased equity.

Also some may see better income by converting them condos

Your comfort level is all you need. If it makes you feel better your report should have some concrete reasons should they pursue a discrimination lawsuit but that is very unlikely. More likely they will just move on.

You mean the bucket it comes in is 30-gallon? That sounds very big and like a special order. Probably hard to move also.

I usually see about 5-gallon and probably costs about $75. The plant itself is about 3 feet tall. I have read and experienced plants growing at about 10 inches per year.

Forsythia grows very fast and I think is less money. Perhaps that would suit you. I see it as an inexpensive screening all over my area.

Viburnum are a great screening plant. You'll probably have to wait about 5 to 7 years I'd guess for them to reach 6' though.

Sign out front + Craigslist

Make set times such as Tuesday and Thursday morning from x to y and Tuesday and Thursday night from a to b and Saturdays from c to d. This will show you who is motivated +"seeing the competition" will get their butts moving faster.

If you make custom one on one appointments they will run you ragged.