All Forum Posts by: Robert White

Hi!  We have recently installed VCT in two of our apartment units, covering old hardwood that was in bad shape.  Does anyone have a good recommendation for a floor polish brand that will last well?  These aren't the types of places where the tenant is likely to apply it on their own, so I want it to be durable.

@Michael Spano, there is a local REIA group that meets here in the Binghamton area. I'll tag @Christopher Stanis so that he can connect with you for our next gathering.

Fiona, there is a local REIA group that meets in the Binghamton area on the fourth Tuesday of each month. We've had pretty good growth in attendance at the meetings, so it may be a good place for you to make some connections if you can make it to one of the gatherings.

I'll tag @Christopher Stanis to make sure he sends you the invite and contact info.

Isn't he the same guy who wrote "Millionaire Secrets to Getting Free Room and Board from the Government"?

One nice thing I found out about Section 8...

I have a tenant who is on Section 8.  We just took back management of the property from a Property Manager.  I contacted the Section 8 office, to let them know of a change in address for the mailing of payments.  

Turns out I used to volunteer with the person I spoke to (we were involved in a Homeless Coalition in our area).  She looked up the tenant and told me, "Do you know you could increase their rent by about 10%, and the tenant won't have to pay a dime of it?"

So I asked her if there was a chart of what we could charge tenants, and she sent it.  Section 8 pays pretty damn well!  You might want to see if you can get a similar "Fair Market Rent" list from your local Section 8 office.  I wouldn't have had the balls to ask for what they consider to be 'fair' if I hadn't seen the list.

And, for what it is worth, my tenant always pays his rent on time, if not early.  He keeps a decent looking apartment, too.

Finally, my Section 8 contact told me that if I have any openings, she can get them filled quickly.

My only question would be, can you handle a vacancy?  What if the tenant moves, and you can't fill it for 2 months?  You'll be out 2 month's income ($3,000) plus having to pay for utilities on an empty unit.  If you can handle that, and your numbers are correct, it looks like a great deal!

Think of some cures...

Search on Amazon for motion detector lights (they screw into existing sockets), and ask if the landlord minds if you replace the garage lights with those.  They will turn on when you enter, and shut off four minutes after you leave.

Ask if she'll give you a heads up when she plans on mowing so you can clean up the yard for her.

Tell her you have a pet snake in the garage that gets nervous without 24 hours notice of a visit (OK, she might not buy this one.)

I agree with the others... the only illegal thing she may be doing is not giving 24 hours notice, and no judge is likely to fine her for that.  

If she has a lot of stuff in the garage, can you move it all to one bay and allow her access to that bay?

Think of ways to make her happy, and you'll be happier too.

Dang!

If you haven't already committed to the $30k, I'd jump off the bus.  Buy J. Scott's books on flipping, and spend the $30k on a life lesson.  Not a big fan of guru's.

Yep, that was my thought.  We inherited these when we took back the property from our Property Manager.  Fortunately, we do have a Security Deposit.  That covers the damages or the rent, but not both.

Thanks for your help, @Max T., @Jassem A. and @Thomas S. !

If I were to win in small claims court, would the tenant have to pay, or would social services?  Tenant lives off social services, and likely has no assets.