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All Forum Posts by: Marci Stein

Marci Stein has started 207 posts and replied 931 times.

Post: Need help w/ Tenant problem - WWYD?

Marci SteinPosted
  • Rental Property Investor
  • New York, NY
  • Posts 946
  • Votes 502

Family with 4 young children have been renting for two years . Last month I told them I am not renewing the lease (up in July 4 ) and they said they’re not moving ( no $) and I’ll have to evict them . 
yesterday they told me water is leaking from toilet to tub . 
today I had the septic pumped and was told even though it is now empty , there is a ton of grease in the lines and the plumbing still will not work . 


tenant denies putting any grease in the pipes .

Lease states he is responsible for any plumbing problems other than regular maintenance . 

The last pumping was two years ago right before he moved in and he clearly had a working septic tank for two years. 

I’m thinking if I do not fix it he will be forced to move but then the town might condemn my house and I have to pay for his relocation . 
I feel stuck - advise please?

Post: increasing rent for tenant

Marci SteinPosted
  • Rental Property Investor
  • New York, NY
  • Posts 946
  • Votes 502

If the increase lines up with comparable rentals in your area , then what is your question?

Post: How soon should you change your listing agent?

Marci SteinPosted
  • Rental Property Investor
  • New York, NY
  • Posts 946
  • Votes 502

You may need to take more control of the listing if you are in a committed agreement for six months . 
make sure there is a sign put out front , and pretty landscaping . 

adjust the price accordingly . 
communicate with your realtor daily . 
find out what marketing strategy she is using.  best of luck!

Post: How soon should you change your listing agent?

Marci SteinPosted
  • Rental Property Investor
  • New York, NY
  • Posts 946
  • Votes 502

You may need to take more control of the listing if you are in a committed agreement for six months . 
make sure there is a sign put out front , and pretty landscaping . 

adjust the price accordingly . 
communicate with your realtor daily . 
find out what marketing strategy she is using.  best of luck!

Post: Is it even possible to dig myself out of this situation?

Marci SteinPosted
  • Rental Property Investor
  • New York, NY
  • Posts 946
  • Votes 502

It’s quite impossible to be a loser if you have found this site and adhere to the education and guidance. 
BP is your way out of Loserville!

Post: How much of your cash flow should you live off of?

Marci SteinPosted
  • Rental Property Investor
  • New York, NY
  • Posts 946
  • Votes 502

Scott did a good job responding .    I would add you should live off as little as possible and invest as much as possible. Weather it’s 30% 40 or 50 , it’s important for you to be comfortable and to save At the same time however ,    you must be a very experienced investor if you’re making 30 K each month from your investments so I would imagine you have a successful formula .            maybe you can share with us how you have done it

Post: How much of your cash flow should you live off of?

Marci SteinPosted
  • Rental Property Investor
  • New York, NY
  • Posts 946
  • Votes 502

Scott did a good job responding .    I would add you should live off as little as possible and invest as much as possible. Weather it’s 30% 40 or 50 , it’s important for you to be comfortable and to save At the same time

Post: My offer - clever or dumb? please tell me what you think

Marci SteinPosted
  • Rental Property Investor
  • New York, NY
  • Posts 946
  • Votes 502

Thank you everyone for all of your wonderful advice —very helpful!

Post: My offer - clever or dumb? please tell me what you think

Marci SteinPosted
  • Rental Property Investor
  • New York, NY
  • Posts 946
  • Votes 502

Would not a title insurance policy protect me from additional liens?

Post: My offer - clever or dumb? please tell me what you think

Marci SteinPosted
  • Rental Property Investor
  • New York, NY
  • Posts 946
  • Votes 502

They owe $30 k in back taxes.