All Forum Posts by: Sid Leibowitz

In many areas this is a code violation. Check with your local zoning and building department before  time or money in this endeavor. 

Many people are unaware that brick should NEVER Ever be painted as it is porous and absorbs water and needs to breath to dry out. Painting brick seals the surface and leaves an environment for water to encapsulate and not be able to escape. In cold weather climates once water is encapsulated in brick and then freezes it creates a condition of thermal shock and the brick contracts and cracks or spalls. You may see this moisture escape in brick that has white streaks or areas known as efflorescence. This can be removed with an acid used by masons. If you want to change the color you can also STAIN the brick which does not seal it. Ask an architect, mason or google staining brick. Also on You Tube

Last time I did a kitchen it was with Fabuwood cabinets and quartz counters. It was affordable and was was a fast fix as the Fabuwood cabinets are shipped from China knocked down and go a local factory where they are stocked flat and assembled locally and shipped. If there is a damage, a replacement can be shipped in days instead of weeks from other cabinet manufacturers that make every cabinet custom. These are plywood and not flake board. The quartz tops are a blend of sand and naturally occurring stone and are polished. They are available in many colors and are not as heavy as granite and are not plastic so they are heatproof and stainproof. Since they are man made they are more affordable than granite.   

I appreciate all the time an effort that all of you express here and you all have valid points of view. There are investors with all views of the industry that they represent. There are no clear cut right and wrong view points here. I am in an area the has many retail and office developments. I myself would never invest my money like they do when there is a glut of high priced office and retail rentals already on the market here. These investors must have an agenda. These investors have heavy money to place and they are frantic to show someone that they are moving and shaking. Perhaps there are tax advantages by having unoccupied newly constructed offices and stores available in the market. There must be a reason to build like that. I am not a CPA to know all the latest and greatest tax loopholes. I would not build a portfolio of unrentable  inventory in an already glut laden area as I see in my area. Perhaps this is foreign money seeking a way of having a legitimate reason to freely travel here or visit or take a residence here from their country by legitimate means. 

Hello Jackson, There has been much written about Detroit and the collapsed industries there and elsewhere in the country . This means that there is a glut of properties being sold by people leaving the area for other areas. Fortunes have been made in real estate by gamblers and risk takers. If you feel that industry will return to the region some day and you are young enough to see it happen in your life time and you are a risk taker then this would be an excellent way of obtaining inventory at a bargain prices. Remember this would be like purchasing stock many years early and sitting on your money while it may appreciate or perhaps not. I am not much of a risk taker in manufacturing as I have seen manufacturing go off shore for years. The EPA, OSHA and Unions killed manufacturing in the US. The area may go under redevelopment in another arena at some time in the future. At this time you would have to be a visionary to see through the dark cloud looming in this area. Will it ever be a vacation spot? Will they build a major airport? Will it become a hub of trucking and transportation. What will draw people to the area in the future? What is the forecast from the government on the long term of the area? You have to be a visionary and think of ROI.

Good Luck, Joe

Tom. The best move you could make. Best Sid Leibowitz

It is usually considered a motor home park. The Mobil homes and trailers are factory constructed and placed on sites. Check with the local town zoning. Monroe may allow this without a problem. You could do sites with electric and plumbing or just dry camping self contained units like motor homes and trailers. Check the Good Sam directory and FMCA directory to find other campsites in your area. Good Luck.

I was only referring to the holding. I always flip. There were too many problems with holding. Constant attention to the property. Tenant bought a pit bull even though the lease said no dogs. The dog ( service animal ) attacked another tenant baby and they sued me. Roof leaked after hurricane and damaged roof and to floor apartment. New Ceiling and paint at my expense. Just a couple. There were more. There was no profit. I sold the house and mage the profit there. Landlord beware

IMHO being a landlord brings huge responsibilities, maintenance and huge legal issues. It is not for everyone and you have to have a gut for it. Dealing with tenants issues is not a walk in the park. If you only look at the income it produces, you will probably be disappointed. try looking at the cost of ownership, maintenance in its many forms. Plumbing, roofing, landscaping, Insurance. It is an exhaustive list. Are you doing cleanup yourself, hiring labor to do the yard work? You are responsible to the town and they will enforce all kinds of hidden and unknown issues. I would simply flip it before something happens that requires your attention away from your other endeavors. Take the money and run.