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All Forum Posts by: Debbie W.

Debbie W. has started 2 posts and replied 73 times.

Post: Need help selling 2500 sf Home for $142,000

Debbie W.
Pro Member
Posted
  • Lindenhurst, NY
  • Posts 74
  • Votes 35

I think a great way would be to add the price and specs here. you may get bites. There is a tab for Marketplace.

Post: Multi‐family apt investing:Researching target areas, Tips, tricks

Debbie W.
Pro Member
Posted
  • Lindenhurst, NY
  • Posts 74
  • Votes 35

@Andrew Heiss, THe location is given if you click his link and join Meetup. I did this for one in NYC once. It verifies and creates a guest list for the host for an event with no walk ins.

Post: Coffee with Investors in Delray Beach, FL on February 9th, 2019

Debbie W.
Pro Member
Posted
  • Lindenhurst, NY
  • Posts 74
  • Votes 35

Looking forward to it. TY

Post: If You're Tired of Forced Rental Property Inspections, Read This

Debbie W.
Pro Member
Posted
  • Lindenhurst, NY
  • Posts 74
  • Votes 35

In Lindenhurst NY and many parts of Long Island, if you have a rental then it is subject to a yearly inspection to check for fire safety (uh huh, I believe that). I pay them $150 for the permit and inspection.

Post: Using a heloc for a down payment

Debbie W.
Pro Member
Posted
  • Lindenhurst, NY
  • Posts 74
  • Votes 35

Blake Hufman I know how you feel. I did that and my husband & I gutted and rehabbed the house we now live in. We took a Heloc that let us buy this house cash. We got 18m 0% from Home Depot and Lowes, all the while paying down the Heloc with rent. We then used that line of credit to pay the credit accounts. It's a blessing as long as you're disciplined and don't use it to buy "doo dads" as Kiyosaki would say :-)). Good Luck.

Post: Inherited tenants ... Now what?

Debbie W.
Pro Member
Posted
  • Lindenhurst, NY
  • Posts 74
  • Votes 35

I believe you should knock on their door when you believe they are home to introduce yourself. Ask them if they can fill out your application for your record keeping and sign a new lease with you in which you have specifics as to who / where to send rent, when it is expected and the late penalties. Is there any such info in the lease you inherited? 

Post: Coffee with Investors in Delray Beach, FL on October 13th, 2018

Debbie W.
Pro Member
Posted
  • Lindenhurst, NY
  • Posts 74
  • Votes 35

My husband & I are in town and would love to attend. Looking forward to it.

Post: Is there a solution for this?

Debbie W.
Pro Member
Posted
  • Lindenhurst, NY
  • Posts 74
  • Votes 35

THat's Cali for you. Do you really want to move? Sounds like the houses are like items. Is the attraction to the other house worth $400K? Cali has made itself a paid partner in all business dealings (reminds me of Cuba). Since you're on here, do you plan on REI for the future? That would be good then if you rent your house, take a HELOC to buy the new one and if you sell in the future, 1031 it and buy your next one for rental. Aim for cash flow that makes up the diff of what you pay the socialist governor there.

Post: Assess new tenant for damage

Debbie W.
Pro Member
Posted
  • Lindenhurst, NY
  • Posts 74
  • Votes 35

My new tenants are gainfully employed and very nice. They provided security upon lease signing. 

This past week, the basement became partially flooded, damaging family stuff I had stored down there and building products we had left over. THe waste line spewed waste onto the driveway outside through the vent. We vacuumed up the 2" water in half the basement. THe plumber charged $240 to respond and clear the line of paper towels. THe tenants admitted disposing paper towels into the toilet when cleaning 2 days prior. It took 3 people over 12 man hours to clean up. I was so annoyed as we did this in 95 degree heat. 

I had discussed the rules about what goes in the toilet when we signed the lease. I estimate a total of $500 for the event since we did the cleanup. What should the letter say to bill them? Do I have recourse if they don't pay? Can I save the bill and put it against their security. This is their 2nd month and I'm hoping it was just an accident. Thanks for reading.

Post: Need some eviction help for the tenant from hell

Debbie W.
Pro Member
Posted
  • Lindenhurst, NY
  • Posts 74
  • Votes 35

Good luck. A lot of good advice here. As long as you have a judgement, they should be out with the assistance of the sheriff. Don't communicate with them any further, particularly after the threats. Put ACR on your phone to record calls. If you are threatened again, file a complaint. If it isn't on paper, it didn't happen as far as police and courts are concerned. In NY, I don't think you are allowed to accept money once you are evicting or it is a new agreement. Since local laws differ, I'd focus on advice from local people. I especially like the eviction specialists.

If you think it will work, send her a message in writing offering to pay one month rent to leave and an additional month's rent if apt is in good condition to be paid after they are out and you've inspected. If they go for it, make sure your inspection includes turning on all water sources and checking outlets. One of the podcasts had a guy speak about a place where the tenants had removed the pipes and electrical but left everything looking good on its face lol.