All Forum Posts by: Pat L.

Yes he is going to Niagara Christian Academy in North Tonawanda NY & he gets picked up/dropped off by school bus way out in Sanborn. Apparently there are quite a few Buffalo School district kids enrolled as well. Our eye surgeon friend is fed up with on again/off again hybrid-zoom-(but same school taxes)-Starpoint, so she's enrolling her twins as well. They were actually in the same class as our Grandson & b4 Covid hung out together. 

The change in our G/sons attitude about school & his grasp of subjects is remarkable. He is 8 yrs old & actually enjoys showing us his work on fractions, basic math & deductive theory. 

Then again I always went to a private RC boarding school, so have no problem with the quasi-religious aspect of it. But given the deeper immersion into each subject, conducive to the much smaller class sizes, it's a no brainer. 

Good luck...

We make sure the unit is vacant & do not close unless its confirmed. In the olde days it was easy to evict MTM tenants BUT NOW its a nightmare & expensive.

We had a similar situation. Tenants have been there 6 years, the husband is a contractor & always had an office in the home. When Covid hit the wife lost her JOB at the local school as a class room aide. She is NOW a psychic medium & apparently quite successful. The big old 1830's home is apparently haunted so I guess it was a natural fit

We re-wrote the MTM as a Commercial NNN, raised the rent significantly, insisted on them holding commercial liability coverage. We required proof of insurance in the form of a certificate of insurance, naming us as the certificate holder & they complied. The town gave them approval for the in-house business.

Good tenants, they always direct deposit on-time & take very good care of the place. However, with prices through the roof we intend to sell it this year, giving them 1st refusal with the possibility of us holding the note.

Using the INSANE NEW math my grandsons public school enforced he would have had to decompose the numbers AND show his work or get a zero regardless of the solution.

        48      +     27    =

      /     \         / \

  40          8   20       7

        40    +    20    =  60

           8    +      7   =  15

          60  +   15  = 85

His public school went 'covid-hybrid-zoom', so now we send him to a private school where they teach him how to solve MATH the way we did in the dark ages. His has since excelled in math, reading & ALL aspects of elementary ed. Then again the class size is 8 not 35.

"..It is also worth pointing out, the Fed doesn't set mortgage rates...."

beg to differ

The Fed definitely can & do influence mtg rates by virtue of its politically injected monetary policy. Given that the Fed has obviously decided to maintain short-term interest rates close to zero (AFR) & continues to "purchase assets' or buy/sell debt securities, along with a very  aggressive injection of liquidity, it will by default force lower mortgage rates. 

Admittedly Mtg rates have traditionally track the 10yr Treasury Bills but these are different times. During the pandemic it became even more obvious that the Fed was manipulating credit rates by buying billions in Treasuries & MBS. 

On the other side 'price inflation' & the secondary demand for MBS does affect rates, but it has no where near the influence the Fed has & seems indent on continuing.

"..If they're smart they'll raise the rate ahead of the inflation but I don't think that will happen...."

never happen...it's purely political convenience to keep them low regardless of the accelerating exponential debt to GDP & little hope of ever paying it off.

We buy our own ALWAYS.

We sold our tired old coin-ops & put in a new scratch/dent washer/dryer. Its a 6 unit so we told the tenants it's now free as long as they respect it & others using it. We then raised all rents $35/unit to cover the cost of water/elect & any repairs. Running gas was a logistical nightmare, so I sub-metered the elect dryer & found it avg $28/month & found any extra water consumption from before minimal. 

Its been 3 years now & the laundry room is kept cleaner, appliances are running well & no complaints. So it has kept everyone happy & they love the free ($35/month) laundry !! 

Our attorney ensures clean unclouded title & then he makes sure we can get title insurance. As mentioned above, the seller takes care of any financial costs to ensure title is clear, or we don't close..period. 

You're lucky you didn't have a boiler & hydronic heat. We picked up a foreclosure CHEAP ($12,500) & had the same experience. Plumbing runs were an easy fix as the ceilings had already collapsed like yours, BUT digging through walls to pull out old split copper heat runs was not fun.

Welcome to the unexpected !! REI is full of it.