All Forum Posts by: Mike Nelson

I have had a Labradoodle start a fire.  I can't imagine what damage a Great Dane can do.

When they got into this business I wondered how they would make any money at it.  I just figured they are smarter than I am.  In part, their buyers are not playing with their own money, but the company's, getting paid on making purchases, regardless of price.  There is a lot of management capability required, I wonder how qualified the management is to meet the many challenges.  The carrying costs and expenses are big, too.

I am curious about what may have caused it.  The exterior looks like it is in poor shape, around the window.  Is that part of the problem?

@Scott 

@Scott MacI think people in New York are lookin g for a good product.

I was walking my dog, and he insisted on going down a street I really didn't want to go down.  We passed by a brick two flat with a little for sale by owner sign at $125,000, of 20% off what I thought it was worse.   Several years later, I ended up selling it for triple what I paid mostly due to appreciation.  

In many markets, I don't see how a large institutional investor can overpay for scattered single-family homes, given the management costs and challenges, vacancies, management inefficiencies, cost/rent ratio, even with the anticipated inflation coming.  Can it be a matter of a company with a bunch of money who thinks they need to spend it somewhere, like some hedge fund managers?

Thank you for the responses.  This definitely helps.

One option is to wait until you have enough equity in your existing properties and either sell or refinance - this option takes patience.

I would like to have a new central air conditioning system installed for my 1,800 SF  100-year old single family victorian-style residence in Oak Park, IL.  The home is a two-story, with a full basement and a full attic.  Currently, the home has a good hot-water boiler-radiator system for heat located in the basement.  For cooling, we rely on seven window unit air conditioners and free-standing window units.  It is an annual back-straining exercise to remove and install these units every year.

My thought is to go with a high velocity system with 2" diameter tubes for distribution.   There would be one or two air handlers and condensers.  I hear the term "SpacePak" around the neighborhood.  Apparently this is a brand name, there are competitors.  Are there any ideas on solutions, as far as types of solutions at the most reasonable cost?  Is there a less expensive time of year to have this done?  

No, but this looks like a real good question, in light of less travel related to coid 19, and challenges in maintaining an acceptable occupancy level.