All Forum Posts by: Christian Lincoln

Great points gang.  Colleen I didn't realize that. I'll have to check NY State. Wow.  Yes we have record of oil tank filled and it says it the lease Shequann.  Mike I hear you on subjective and objective.  Just seems like when you say "Don't leave trash in the part of the country, the bear will get into the house," three times and remind them in email. And then the bear rips the door off a few weeks later and drags trash everywhere, well, it seems objective to me, but not a judge maybe huh? Judges have strange take on things.

Troy I have beautiful pics of the house before hand but I don't know how thorough the walk through was. I didn't have them sign anything after the walk thru.  I may have taken video, but finding it...? 2 or 3 phones later...uggg.  

2 year lease. Really nice 4 bedroom. New Yorkers who have never lived in the country, now they want their security back after the following:

1. Let the oil run out, 13 breaks in the pipes, new pipes, new ceilings. I made them pay for this. but plumber didn't finish the job, just capped off some pipes going to shower in tub. now i have to get a plumber. They never told me he didn't finish and the shower handle didn't work.

2. Continually left garbage in the basement, when I told them over and over not to do so - documented. Bear eventually ripped barn door off where they stored some of their garbage. Had to deal with mice in basement as well. 1,000 total.

3. used steel wool on new white stove. omg. have pics.

4. kids wrote all over walls. I'm okay with repainting but they dug into the walls with pencils and markers ugggg.

5. huge 18" long, 1" deep dent in wall moving out.  3 heavy coats of joint compound.

6.  dog scratches on floor. oil stains on walls and on beautiful concrete tub deck...on and on and on.

7. Left oil tank empty even though lease said they had to fill it upon leaving. Now claiming it wasn't full when they arrived.  Incredible.

I have pics. I have receipts. But they are pulling a New York attitude about the whole thing, saying we lost tons of food when the fridge didn't wasn't cooling properly for a week. even though my asst. gave them a small fridge temporarily. And that it's all general wear and tear. I don't want to go to court, but....It's a beautiful house, 2100 a month, and security was 1600. I was going to call it even, but now they aggressively want it and i total damages around 2400 minimum, 3,400 if I pursued all of it.

Thoughts???  First long term tenants. 

Karen,

No I was referring to email from people not selling anything.  I was being slightly facetious. But I've had correspondence from people I was just chewing the fat with disappear.   No, I'm all against Spam and advertising. I just returned from Spain, where nobody tries to sell anyone anything. Fantastically refreshing.

Bigger Pockets deleting some of your posts. I wonder if these means some of you shceisters or they asserting their will to demographically profile. hmmm.

Not at all. I just sent an email to a local investor/colleague. I don't think it was a colleague request. I believe this is the way I did it with you. You helped me we a question, and then we became colleagues, no? 

thanks Jon,

Daren, or moderator,

As a paying member, it would be nice if the website platform allowed for a differentiation of networking and solicitation. Sometimes the best relationships are begun with questions, that would not qualify as solicitation.  Furthermore, how best would I decide on accepting a new colleague request without getting a sense of who this person was, via an email first? See my point?

Best,

Christian

Stephen,

Are you getting out bid? I assume not. What has been the outcome of your bids? Any feedback? Poughkeepsie doesn't have grounds for not acceptting fair or even slightly low offers; it's a tough town, though the quality of the housing stock is quite good, there's a lack of jobs, there's a lack of people, there's a lack of morale, there's a lack of money. To me, this is not a flip town. I wouldn't flip there, it's a buy and hold, long-term rental town. Espec. around colleges. There's no upside.  Beacon is different. The city people have arrived. Prices have been rising. I just don't see that happening in Poughkeepsie.  

Thank you Bob C. I'll have a look.  Thank you Sam. Thank you R.F.  Looking at all this now.

christian

Anthony that's so cool of you,

I really appreciate that offer. wow.  what a relief. I've been staring at my numbers, trying to find the errors.  Takes too long. You know, what you have sounds pretty perfect.  I'm not great at excel so I'm struggling a bit to log everything into it on this student housing I just purchased.  Basically it's 2 structures, one big one with 6 bedrooms and another cottage with 2 bedrooms and maybe future potential for 3.  also a couple little studios and garage that might be rentable in future. I just want to see what each person paid, (rents all the same in each house, though I they have given me different amounts in the 2 months they have been there), what they should have paid (students), what they owe, what their security deposit was.  late fee applied. And maybe a space for future storage or laundry income, but not necess.

On the expense side, just the usual.  mortgage, taxes, lawn, snow, miscell. stuff. 

And maybe a summary page with how I did for the year. Gross, Net, Cap Rate, something I can also give to an accountant. do you seperate the expenses out into categories? Office supplies, mortgage interest or capital improvements, anything like that for accounting?

Anybody used a H.M. lender in the New York, Tri-State or Hudson Valley Area they liked?

I'm looking a 1 month turn-around on reno.

Thanks,

Christian