All Forum Posts by: Jason Stone

Chris Schwartz did you ever solve the issue you had seeing the credit and background reports? I'm having the exact same issue and there is no customer support response. They just keep marking my ticket solved (which it's not). I've found them on Twitter, tracked down people on LinkedIn in and discovered the email social(at)zillow.com (which is supposed to offer customer support for social media complainers) all to no avail. 48 hours later, I can't access the reports and don't see a light at the end of the tunnel for being able to. Jason

My SFR tenant of one year is wanting to renew and has asked what I would charge for him to go for another full year vs. month-to-month. I have read one post on the premium people charge for M2M (that post suggested 8%). Does anyone else have a rule of thumb for a good tenant to stay on?

Also, I usually keep rents level for 2-3 years (I don't want to pay for the turnover). In this case the house has required more maintenance than I had originally anticipated. I think the market would bear a 2-3% increase on the original rent (about $50). Any reason not to ask for this premium as part of the renewal?

Yes, there is a place. It's just a little harder (though sometimes more rewarding if you have a sense of pride in your finished work). That said, I did historic redevelopment because of historic tax credits. Were they not an option, I probably wouldn't have done them and would have focused on less complicated projects.

One note that I'd like to add to the thread based on a comment above: I cannot speak to Nicole Curtis's work, but as someone who used to do both historic renovation and LEED-certified (green) construction, I would like to help correct a misconception about historic windows. Historic windows are not necessarily inferior to new, and in most cases are aesthetically superior (which may be why Ms. Curtis chooses to keep them). Aesthetics and charm matter, particularly in marketing an historic home. Please don't rush out to switch your historic windows -- particularly for inexpensive vinyl (though I'm more ok with switching out with an energy efficient, aluminum clad, wood window that matches the old design). If you can find a competent window restoration crew in your area, consider the option. See here for more info: http://www.oldhouseauthority.com/archive/old_windo...

@Matt Overbee As you predicted, the property has just shown back up and the opening bid has dropped another $5K. I'll be bidding, but it seems a bit of a waste of time and effort if the bank (and the agent rep'ing the bank) is not actually interested in negotiating a sale with the only guy bidding (and reaching out via email that I'm willing to chat more offline). I'm a qualified buyer willing to close in 20 days, so it seems a shame not to pick up the phone and chat it out, but I get that that's the system and so that's why I'll bother bidding again. 

I wonder what they're burning in holding costs?

I just had an odd experience on Hubzu:

Week 1: Cute little house around the corner comes online. I wait (as suggested above) until :16 before the end of the bid. I have the highest bid, but the reserve is not met. I receive an email later (end of day or the day after) with a counter of $188K+fees ($198K) to my $144K bid (no thanks).

Week 2: The house appears again, this time with a opening bid $5,000 less. Once again, I bid :16 before the end, and leave the auction as the highest bidder. Again, an email, but with the same counter, $188K+fees ($198K). Fine, I think, since I'll play this game next week.

2 days later: I get an email that the house is under contract. The auction has been won at $189K (I assume plus fees). What? There were no other bidders?? How is this so? In the end, I think $199K is a sucker's payment on an occupied house, site unseen (though it could be worth that and more if they can get the owner out and find there are no issues - it is a cute house in a high demand neighborhood). Still, I don't know how this person was able to bid once the auction was closed. 

Just an odd experience.

They are comparable in housing stock, schools and perception, but a key difference is taxes. I've always heard this, but just to be sure I pulled a quick report of the available homes between $200K and $250K (at time of my search 7 homes in WG, 5 in K). On average, the taxes in WG on these similarly priced and sized homes (note: lots in WG did run about 30% larger) was 50% higher in WG than in K ($3,515 vs. $2,362). Advantage (as an investor): Kirkwood.

I checked Rentometer and the average rent for a 3 bed in K is $1,358. The average rent for a 3 bed in Webster is $1,155. Advantage: Kirkwood.

As a counter, the website neighborhoodscout.com puts WG's appreciation rate higher than K's at 3.06% vs. 2.76% (107.87% vs. 95.02% over the last 10 years). Also, the crime stats appear to be better in Webster vs. Kirkwood (this was news to me). Advantage: Webster.

JS

I have gotten 3 calls on an apartment I posted via Postlets asking if I take Section 8. The unit rents for $925. Should I look into Section 8? Is it a good program or am i opening Pandora's box? Is it relatively easy to get into? If so, where do I begin?