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All Forum Posts by: Chris Szepessy

Chris Szepessy has started 5 posts and replied 631 times.

They're wood floors...they're prone to scratches like that. Like @Bill B. said, try the color match markers on it.

Originally posted by @Pawan Vaswani:

Thanks  Chris for the response. So buying an investment property for short term rental doesn’t make sense. 

Do you think a similar regulation is being proposed in Catskills and nearby towns? 

 Other towns have floated the idea of trying to regulate BnB's, but no major laws that I'm aware of have been passed. Hudson is a pretty "touristy" town, so BnB's became a big thing and the local gov't was concerned about the amount of long term housing available. I'm sure at some point if it becomes issues in other areas, they will have to address it that time as well.

Originally posted by @Pawan Vaswani:

Hi,

I’m currently looking for an investment property in Hudson/Catskills area. My plan is to rent it on a short term rental basis and stay for few weeks in a year with family/friends. 

I came across some articles stating that these towns plan to regulate the short term rental market. Does anyone have any idea if they would regulate? Timeframe?

https://www.hudsonvalley360.co...

That's Hudson's current law regarding BnB's. As far as I know, Catskill doesn't have any real regulations on them. I assume that's because there aren't as many as there are in surrounding areas, so it's not really an issue yet.

Post: Todays Jobs Reports on the news

Chris SzepessyPosted
  • Catskill, NY
  • Posts 636
  • Votes 668
Originally posted by @Susan Maneck:
Originally posted by @Chris Szepessy:

I work for the post office...new hires now start somewhere around around $40k a year plus benefits, over $19/hr. not including the benefits. Very, very few people apply and the ones who do get the job, usually quit in the first couple weeks. There's also a few positions that start at over $65k a year and can't find anyone for those jobs. Oh, the post office doesn't require a degree or any special skills other than a little hard work at times. There are already decent paying jobs out there that people can get IF they wanted to.

No, those programs don't usually come out to $15 an hour. Food stamps for a family of three is about $400 a month. In Mississippi you can only get Medicare if you are pregnant or have a young child so even the very poor don't have it. And they can't get Obamacare either if they are only making minimum wage. Assuming they had a housing voucher that might be worth $800 a month. So we have a total of $1200 a month which comes out to about $6 an hour. Now if you got a minimum wage job and you add these benefits to them you might come close to $15 an hour, but then you are still without health insurance. In that case a single mother would be irresponsible to take a job and lose Medicaid for her children. 

As for your Post Office jobs, those aren't that easy to get as you imagine and you usually start out as a part time worker, often a rural driver working one day a week and on call the rest of the time. You may not need an education but you do need to take a test and there is a trick to passing it. I had to attend a paid workshop to learn that trick. It worked, I was offered the job but I was offered a graduate fellowship and didn't have to take it. But this is why I know so much about the process. I scored in the nineties which is pretty much what you need to be considered. Veterans get a five point advantage over others and most postal workers are veterans. It is not that easy a job to keep once you get it either. It is very high pressure and not everyone can do it. There is a reason that the phrase for a mass shooting used to be "going postal." 

Now, there have been some problems finding enough workers during the pandemic but that is because entire offices sometimes caught the virus. That happened up here in Lake Tahoe. We didn't get mail for a week.

What you said used to be true of postal jobs. Present day, they are extremely easy to get. There's no more exam and they don't even require drug testing. And since there's such a shortage of workers, the part time employee has the opportunity to learn other routes and cover that carrier's day off, sometimes working 6 days a week if they want. Yes, we are under time restraints and sometimes it is hard and possibly stressful.

On top of that, the local Stewart's (chain gas station) is also hiring at $18/hr plus benefits...no special test, no "one day a week,"  etc. There are plenty of jobs out there paying a "living wage" but people just don't want to work..plain and simple. I've worked 2-3 jobs at a time before to either make ends meet or in order to save more money. I still work any overtime I can get, even though I don't really have to.  I have no special skills and only an associates degree from community college...and a ton of work ethic. Again, I'm all for giving someone a hand up, but I'm not big into giving hand outs. 

hahaha That's the best thing I've heard in a while. You can tell in his voice that he seems to be a pretty nice guy, he just gets a ton of courage when he drinks. Just not enough courage to handle you himself...his "badass" gf is gonna take care of you. lol

Post: Todays Jobs Reports on the news

Chris SzepessyPosted
  • Catskill, NY
  • Posts 636
  • Votes 668
Originally posted by @Susan Maneck:
Originally posted by @Greg M.:

Millions of people survive just fine making less than $15/hour. 

Serious question: If we suddenly gave the people making less, $15/hr, how would that change their lives? Would they be able to afford their own place to live? A car? Seriously, what do you think? 

No, it isn't. I've run the numbers. It takes at least that much to live even in Mississippi. Yes, millions make less than that. You do realize that most of the people receiving food stamps work? They also get Section 8 housing vouchers in many cases. In other states they would likely get Medicaid as well. Here they just do without health insurance because their income isn't high enough to even qualify for Obamacare and the state refused to expand medicaid. My point is that all of these government safety nets would not be necessary if they were paid a living wage. The government is subsidizing those businesses! 

I bet if you added up the Sec. 8, Medicaid, and food stamps, it comes out to way over $15/hr. There is zero chance that anyone is going to start working and give up their "safety nets" just because a job now pays $15/hr. If they're making the same or more to do nothing, why would they get a job? I'm not against the gov't supplying "safety nets." I have a problem when those nets turn into hammocks. Almost everyone in the world falls into some sort of hard time...and yes, some people are dealt better hands from the beginning, but we need to start encouraging hard work to get what you want in life. 

I work for the post office...new hires now start somewhere around around $40k a year plus benefits, over $19/hr. not including the benefits. Very, very few people apply and the ones who do get the job, usually quit in the first couple weeks. There's also a few positions that start at over $65k a year and can't find anyone for those jobs. Oh, the post office doesn't require a degree or any special skills other than a little hard work at times. There are already decent paying jobs out there that people can get IF they wanted to.

Post: Removing Partial Wall

Chris SzepessyPosted
  • Catskill, NY
  • Posts 636
  • Votes 668

If it's not load bearing, almost anyone with a hammer can take it down. It's a little more involved if it is load bearing and might be out of a "handyman's" league.

Post: Todays Jobs Reports on the news

Chris SzepessyPosted
  • Catskill, NY
  • Posts 636
  • Votes 668

I predict next month’s jobs report will be similar....or worse, if they keep passing these bills extending all these “assistance” programs. Stop paying the unemployed $400 extra a week and give it to the people who are working and watch how quickly unemployment drops.

Post: BEGINNER question about purchasing a duplex

Chris SzepessyPosted
  • Catskill, NY
  • Posts 636
  • Votes 668

It's a regular mortgage, but the lender will require more money down, usually 25% of purchase price. They may even want to see reserves (extra money over the 25% down) in your bank account. Do you already own a home? If not, it might be a good idea to "house hack" this property, by living in one of the units and renting the other one. You can use a FHA loan and put as little as 3.5% down to buy the property.

Post: Property in The Bahamas

Chris SzepessyPosted
  • Catskill, NY
  • Posts 636
  • Votes 668

We plan on visiting the Bahamas at some point in the hopefully near future and would likely be looking at houses/condos when we do. We aren't looking to buy right away, so it'd be more for getting a feel for the areas. Is there much of a difference in buying a single family as opposed to a condo? Condo prices seem pretty reasonable, but I don't know what HOA fees would be. I'm not a huge fan of condos, but they seem like a better choice for an out of country purchase. Any help you could provide would be great! Thanks!