All Forum Posts by: Rusty Scott

Bob, you keep posting about SF....but you fail to mention anything about the rent controls that are wildly prevalent there. Most landlords have no ability to raise rents once tenants are in, beyond what the board allows, nor can they ever get rid of them if they choose....outside of pulling their property from the rental market entirely. So nobody actually achieves those ridiculous rent increases you posted. 

For the last year, you could raise rents 1.9%. 

 Nah, Bob, it's all good, just poking some fun. You're a good guy. As are Ryan and Shawn!

I will agree that investing here takes a bit more discretion. There are many areas that have seen great appreciation, and others have seen none. I know as I own in both. Nobody is going to mistake the Indy RE market for SF.

You guys keep getting suckered into Bob's trolling!

A lot of extreme answers here. There is typically NO requirement for an owner to keep a separate account for any security deposit money. You can handle it like any other money if you are the owner of the home. You are liable to pay it back, but it is NOT a trust or escrow account situation, like it would be for a licensed real estate professional dealing with something like earnest money. It may be best practice for you to keep it in a different account, but there is not a legal requirement in most states, that I'm aware of.  

This list has been proven to be totally worthless. Safest hoods would be easy. Find areas with median income over $100k, you'll never have a crime problem. 

 Yes it is....pretty awesome actually. Almost as scary as the 46208! 

 Of course.....well actually only in prior hoods, like Harlem and Hyde Park :-)

Well, I better lock my doors extra tight tonight, as I live in 46208. Never mind that the Governor lives 1000 yards from here, or that my street has had 4 flips sell in the last month for $500k+, or that there are several $1m listings active within that area. 

This is why posting stuff like this is totally worthless, and even worse, actually detrimental. 

If you were over-priced to start....I'd highly recommend pulling it off the market for a brief period of time. And then re-listing at the appropriate price. I have seen homes many times that are way over-priced, which end up dropping well below their true market value, because they just stay active. The listing gets a stench to it, everyone looks at it and says, "what is wrong with that property?"

Pull it from the market for a few weeks, then re-list. 

I had a lever break in my own house, so yes it does happen. They are typically thin plastic...and unfortunately not a cheap part to replace. Think mine was like $125.