All Forum Posts by: Richard Ballard

I haven’t gotten the exact cost of doing the electric but my contractor estimated we would need a pole to reach the house and that alone would cost $1800 plus hook up but I need to call the company to get exact amounts to see if it is worth it. In the long run it’s probably easier to just include electric and water in the rent.

Hi all, I’m fairly new here and to real estate, so far bought 3 places one a duplex ready to go and 2 renovations from auction. I’m just about done with he first renovation, its a single family home with an apartment above the garage (that I’m still finishing). My question is there is not a very easy way to split electricity without having a new pole placed for the electric which would be very expensive. Just wondering what others have done in this case? Is there a device that I could hook into the box to measure all the electric used by the apartment and house and then just charge them or should I just eat the electric and push the rent up a little? Thanks for the input! Rich

Thanks for the input, I agree this seemed a bit long, I’ll look at a rewording to shorten it. Thanks for the input!

Hi all, I purchased my first duplex back in June and I inhered two tenets. One of them is great the other one, the old owners’ stepson must not of paid his rent very often and so now he’s had to leave. I wanted to get your feedback on a note I was sending back to perspective tenants after they contacted me from an ad I put on Craigslist. I’ve had over 10 responses to the ad but only one filled out the form so wondering if something is wrong with it or the note. I will appreciate any advice Here is the note: Thank you for inquiring about the property on South Street in Champlain New York. I wanted to give you some more information about the property and also to give you a chance to ask any questions you might have. As I said in the ad the property is a two bedroom one bath unfurnished duplex. You will also be able to use one of the 2 car garage spaces. The available apartment is on the upstairs level. Water and sewer are included in the rent but electric and heat are not. The deposit is $600 and that plus the $600 first month’s rent ($1200 total) is due before moving in. To move forward if you could please fill out this short Pre-Approval by going to this site: https://goo.gl/forms/fsXwbKKxvp4BBoX42 I will contact you about times to visit the apartment when I receive the pre-approval. If you wish to just drive by to look at it before then, the address is: Below are some basic requirements for any with moving into the rental: Prospective tenant‘s income will be verified and “take home” income must be three times the rent. Prospective tenants must have good references and may not have any evictions on their record. Prospective tenants must pass a minimum credit requirement. Prospective tenants must pass a background check. We have a no smoking policy. Prospective tenants may have one small dog or cat under 30 pounds. We have a maximum of two occupants per bedroom for a total of four people in the two bedroom apartment. All tenant paid utilities must be transferred into Prospective Tenant’s name. A lease must be executed and signed by all parties.

Just wondering if there is anyone from way upstate NY on here? I've just begun investing in northern NY around the Plattsburgh area and would love to find some others who are in this area.

thanks for the quick welcomes I look forward to learning here

Hi all, I'm just dipping my toe in the real estate investment pond. I'm interested in building a buy and hold portfolio to create some residual income for when I retire from my teaching position in about 5-7 years. Right now I'm in the learning stage but hope to be started with my first investment by January.